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.
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PayJoy raises $6m funding
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.”
