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San Francisco based smartphone-enabled consumer financing platform PayJoy has raised $6m in an undisclosed financing round led by Santander InnoVentures. PayJoy is bringing consumer finance to people who otherwise could not afford modern electronics such as smartphones.
Manuel Silva, Head of Investments at Santander InnoVentures, said that investing in PayJoy was indicative of Santander’s constant search to invest in great teams pushing the boundaries of Fintech; “PayJoy’s mission is to help the less privileged join the digital economy and climb the economic ladder. PayJoy rethinks a basic financial service through the lens of innovation, technology, and data, and brings a simple and fair new offering to those who need it the most. We are impressed by PayJoy’s passion and vision and are thrilled to support them in their next chapter.”
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