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Traded asASXSZL[1] [2]
IndustryFinancial technology
  • Charlie Youakim (CEO)
  • Paul Paradis (CRO)
  • Killian Brackey (CTO)
HeadquartersMinneapolis, U.S.
Area served
United States, Canada[3]

Sezzle is a publicly traded financial technology company headquartered in Minneapolis, U.S operating in the United States and Canada.[4] The company provides an alternative payment platform offering interest-free installment plans at selected online stores.[4][5][6] As of June 2019, the Sezzle platform had 429,898 active users and 5,048 participating merchants.[7][8][9][10]


Sezzle was founded in 2016, by Charlie Youakim (currently CEO), Paul Paradis (CRO), and Killian Brackey (CTO) in Minneapolis, U.S.[4][5][11] Sezzle raised over US$17 million in equity capital prior to its IPO, where it raised an additional US$30 million. The company also has a US$100 million debt facility from Bastion capital.[12][13][14] In May 2019, Sezzle partnered with Bank of America Merchant Services to implement their digital card processing solution within the payment platform.[15]

In early 2019, Sezzle turned on the ability for Canadian consumers to use the platform and highlighted a Canadian retail partnership with the streetwear clothing retailer Kappa.[16][17][18]


The Sezzle e-commerce payment platform, launched in 2017, enables customers of participating online stores to split the payment for their purchases into four installments. The first installment is paid at the moment of purchase while the other three are due at regular intervals over the following six weeks.[11][19]

Instead of relying solely on a customer’s FICO score for credit risk evaluation, Sezzle’s underwriting system assesses each order individually and takes into account multiple factors including a soft credit score check, the customer’s order history with Sezzle, and the total purchase amount.[11][20] The customer’s credit score is not impacted.[19] Sezzle’s service comes at no added cost to the consumer.[11][20] Repeat customers who have paid off previous purchases on time are allowed to finance the purchase of more expensive products.[5]

The platform operates as an alternative payment method that the customer selects at checkout to enable payment with participating retailers. Users can also shop and find stores through the Sezzle app and website.[21]

California lending license[edit]

On 30 December, 2019 the company introduced a "buy now and pay later" service in California to its customers but the California Department of Business Oversight ruled that the company instead of offering an interest-free pay later service makes loans to its customer.[22] The California Department of Business Oversight stated that Sezzle's involvement with the merchants goes "beyond non-lending relationship yet permitted by California courts, and the credit sales purportedly purchased by Sezzle do not justify Sezzle’s extensive involvement".[23][24]


  1. ^ "U.S. Payment Startup Sezzle CEO on Australia IPO, Strategy". Bloomberg. Bloomberg Daybreak: Australia. July 30, 2019. Retrieved 2019-07-30.
  2. ^ Richardson, Tom (July 30, 2019). "The Sezzle IPO is about to put a rocket up the ASX boards". Yahoo! Finance. Retrieved 2019-07-30.
  3. ^ Walton, Shane (July 29, 2019). "3 key things you need to know ahead of the Sezzle IPO". IG Group. Retrieved 2019-07-30.
  4. ^ a b c "Sezzle overview". May 22, 2019. Retrieved July 30, 2019.
  5. ^ a b c Ramstad, Evan (2018-11-18). "Sezzle develops pay-in-2019 option with online retailer Tobi". Associated Press. Retrieved 2019-07-30.
  6. ^ Mohs, Marielle (2019-06-27). "AngelTax Credit Returns To Minnesota In Hopes Of Making Minneapolis Competitive With Silicon Valley". CBS Local. Retrieved 2019-07-30.
  7. ^ Redrup, Yolanda (2019-04-08). "Afterpayinspires US rival Sezzle to list on ASX". Australian Financial Review. Retrieved 2019-07-30.
  8. ^ Penn, David (2019-04-11). "Sezzle Raises $5.6 Million in New Funding". Finovate. Retrieved 2019-07-30.
  9. ^ Nainan, Nikhil (2019-07-26). "U.S. buy-now-pay-later firm Sezzle plans Australia IPO amid..." Reuters. Retrieved 2019-07-30.
  10. ^ "Sezzle IPO Operational Update" (PDF).
  11. ^ a b c d PYMNTS (2017-11-17). "How Sezzle Wants To Help Millennials Without Sizzling Credit". Retrieved 2019-07-30.
  12. ^ Grayson, Katharine (November 15, 2018). "Fintech startup Sezzle snags $100 million for pay-as-you-go offering". American City Business Journals. Retrieved 2019-07-30.
  13. ^ "Paytech Sezzle sizzles with $100m line of credit". FinTech Futures. November 20, 2018. Retrieved 2019-07-30.
  14. ^ Muhn, Julie (2019-07-31). "Sezzle Raises $30 Million in IPO". Finovate. Retrieved 2019-08-18.
  15. ^ "Bank of America Merchant Services To Provide Payment Processing for Sezzle a "Buy Now, Pay Later" Technology Leader". ATMIA. Bank of America Corporation. May 20, 2019. Retrieved 2019-07-30.
  16. ^ June 28, Tom Richardson |; APT, 2019 | More on: (2019-06-28). "Is Sezzle's growth and Canada launch a threat to Afterpay in the US?". Motley Fool Australia. Retrieved 2019-07-30.CS1 maint: extra punctuation (link)
  17. ^ Kruger, Colin (2019-07-18). "Investors buy now for IPO of Afterpay rival Sezzle". The Sydney Morning Herald. Retrieved 2019-07-30.
  18. ^ Roshitsh, Kaley; Roshitsh, Kaley (2019-06-24). "Sezzle Kicks Off Canada Launch With Kappa". WWD. Retrieved 2019-07-30.
  19. ^ a b Wierson, Arick (2019-06-24). "Payment Disruptor Sezzle Poised to Shake Up the US E-Commerce Market". Observer. Retrieved 2019-07-30.
  20. ^ a b "Sezzle FAQ". Sezzle. Retrieved July 30, 2019.
  21. ^ Ross, David (2019-04-17). "US buy-now-pay-later app Sezzle moves into Afterpay's territory in Australia – but says it's not here to fight". Business Insider Australia. Retrieved 2019-07-30.
  22. ^ Reuters (2020-01-02). "Australia-Listed Sezzle Fails to Win California Lending License, Shares Dive". The New York Times. ISSN 0362-4331. Retrieved 2020-01-05.
  23. ^ "Regulator blocks hot fintech startup from offering its service in California". Retrieved 2020-01-05.
  24. ^ "Sezzle shares plunge after California moves to regulate online installment payments". Star Tribune. Retrieved 2020-01-05.