equipifi Secures $34 Million Series B to Accelerate Buy Now, Pay Later Across U.S. Financial Institutions

Equipifi, a fintech platform that enables banks and credit unions to offer flexible payment solutions within their digital banking experience, has announced the closing of its $34 million Series B funding round. The round was led by Left Lane Capital, with participation from all existing investors, including Curql and PHX Ventures. This funding brings Equipifi's total financing to $49 million.

The company aims to address a critical gap in consumer finance. Flexible payment options are preferred by over 82 million American consumers, yet many of these services are provided by third-party fintechs, which operate outside traditional banking relationships. Equipifi's platform allows consumers to split purchases into manageable payments through their trusted banking institutions.

Consumer adoption of bank-embedded flexible payments has reportedly more than tripled in the past year. Research indicates that many consumers prefer accessing these options through their primary bank or credit union and express higher satisfaction when provided with such services.

Bryce Deeney, Founder and CEO of Equipifi, noted the enduring shift in consumer payment preferences, stating, "BNPL has become the third pillar of how consumers pay alongside debit and credit, and that shift is permanent. Financial institutions are best positioned to own this space." Dan Ahrens, Managing Partner at Left Lane Capital, voiced confidence in Equipifi's platform, stating, "We believe Equipifi is building the defining network for flexible consumer payments across financial institutions."

The Series B funds will primarily be allocated towards expanding Equipifi's partnerships with financial institutions and enhancing product capabilities. The company plans to double its workforce within the next year, focusing on product and engineering roles.

Founded by a team with experience in financial institutions, Equipifi addresses the disparity between consumer expectations and banking offerings. The company is committed to building deeply integrated solutions that enhance the banking experience for consumers. For more information, visit equipifi.com.