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Wisetack, a new startup based in New York, announced a $1.9 million Series A at the recent Wilhelm Tech Crunch. They plan to focus on the home and auto repair industries with proven results for merchants and partners.


Wisetack is an all-in-one payment solution. It allows consumers to finance big purchases through an app. The application takes a minute to complete, and consumers can choose how they want to pay their loans. As a result, Wisetack streamlines operations and eliminates surprises.

The app is backed by Insight Partners and Greylock. Its technology includes a soft credit pull and APIs to embed financing options into a variety of software platforms. A team of technologists from PayPal and Lending Club helped launch the company.

During its first year of operation, the service helped customers finance a number of large transactions. As a result, Wisetack’s loan volume rose 20 times. This is a big accomplishment considering that the United States spends $400 billion a year on residential renovations. By 2026, the automotive repair services industry is expected to reach $250 billion.

When Wisetack launched, its team saw an opportunity to make lending more accessible to in-person businesses. In the past, these businesses were often stuck with expensive financing options. Now, they can offer consumers financing quickly and easily, with no additional credit checks or prepayment penalties.

Focus on the home and auto repair spaces

Wisetack is a fintech startup based in San Francisco. The company’s mission is to help merchants and their customers finance large transactions with little hassle. Its main product is a buy-now-pay-later solution for service-based companies. According to the company, the United States automotive repair industry is estimated to be worth $250 billion by 2026. With this in mind, the company has raised $64 million in funding to date. Founders Liz O’Donnell and Kolya Klymenko, both former PayPal and Lending Club executives, joined forces in the hopes of making this vision a reality.

To its credit, the company has not only embraced the concept of Buy-Now-Pay-Later (BNPL), but also has integrated the technology into its core offerings. By implementing the aforementioned technology, Wisetack has been able to increase its efficiency and productivity. And, as of late, it has attracted more than 1,000 customers. Moreover, the company recently announced a $45 million Series B round. Although it’s unclear what the money will be used for, Wisetack is confident that this funding will help it achieve its mission of making commerce more efficient and affordable for all.

Partners with vertical SaaS players

Wisetack was an early entrant in the burgeoning buy-now-pay-later space and has since amassed an impressive portfolio of clients, including Beehive Plumbing, On Time Heating and Cooling, Prime Electrical, and many more. The company’s top notch customer service and tech-centric approach has kept it afloat during a tough year, and the company is set to expand its footprint in the near future. Its latest round of funding, which brings its total to nearly $30 million, comes from investors such as therightmessages Greylock, Techstars, and Accel Partners. Founded in 2014 by a trio of seasoned industry veterans, Wisetack offers an array of solutions for service-based industries, ranging from plumbing to auto repair to real estate, and isn’t afraid to push the envelope. Some of its offerings include a slick online and mobile app, a suite of API integrations, and the aforementioned credit-tracking capabilities. To top it off, the company also offers a no-hassle warranty program.

Proven results for merchants

Wisetack has been able to grow its revenue by 20X in the past year. It focuses on in-person businesses and provides financing solutions to customers. In addition, Wisetack embeds these financing options into its software platforms, which are used by many of its merchants. This has helped to increase the number of loans it has given to merchants. As a result, it has been able to generate revenue from both consumers and merchants.

To further expand its business, Wisetack has partnered with vertical SaaS players to bring its BNPL service to these companies. This allows it to generate revenues from its merchants and to scale its revenue with the volume of loans it gives to its customers. These partners include SingleOps, a software provider that specializes in landscaping and the green industry.

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