NYC based lending platform for online retailers has raised $60m in Series C financing led by Kinnevik.
New York-based Bread builds financing offers into the websites of retailers, ensuring customers can view a range of pay-over-time options without leaving the site. The company claims its service has boosted retailers top-line sales by an average of 15 percent. On Tuesday, Bread announced it has raised a $60 million Series C funding round, led by Kinnevik, to build out its existing business serving online retailers. The company also wants to use the investment to push into what CEO Josh Abramowitz describes as “omnichannel experiences”—meaning Bread could offer its service in store as well.