It can be very difficult for an entrepreneur to determine what the right business model is for his or her new company. The key is to consider both the start up phase and the future plans. Fortunately, there are several options available to help entrepreneurs get a handle on the business. One of these options is a startup lending service for in-person businesses.
Wisetack is a start-up that aims to revolutionize the buy now, pay later industry. It does this by integrating financing options into the software platform used by thousands of merchants. These include plumbers and HVAC contractors. As a result, consumers can pay for their purchases over time, while merchants are able to get paid in cash. The company is also looking to enter new markets, and plans to double its team of 40 employees in the coming year.
Although the company has not disclosed how much money it’s raised so far, the total is well into the tens of millions. The company recently announced a $45 million round of funding led by Insight Partners and Greylock Partners, and it plans to add more investors along the way.
Wisetack, a consumer finance platform, helps make big purchases affordable and streamlined. They integrate with software platforms to allow consumers to use buy now, pay later options. It’s easy to get started with Wisetack. A Wisetack application takes just a few minutes to fill out and you can choose from an array of loan terms and repayment schedules.
In addition to providing lending solutions, Wisetack offers a technology-powered add-on for home services businesses. The company was founded by Bobby Tzekin, a former PayPal and Lending Club executive, and a team of experienced operators and technologists. This team saw a gap in the marketplace for in-person services that needed better financing options. Today, thousands of businesses offer finance options to customers, including Beehive Plumbing, Prime Electrical, and On Time Heating and powerful idea Cooling.
Partnerships with vertical SaaS businesses
Vertical SaaS companies offer a more customized, value-added solution for specific industries. This helps increase client satisfaction and client retention. It also contributes to increased customer success and conversion rates.
In recent years, more and more vertical SaaS products have become available. Some are new, while others are offered by existing corporations or companies with a history of serving one industry. However, despite the popularity of these solutions, there are challenges to be overcome.
One major challenge is the fact that vertical software is typically more complex. This is a result of the fact that some functions are subject to regulations, such as HIPAA. To digitize these functions, a company must have a deep understanding of the ailovemusic industry.
While it is possible to provide software to multiple industries, focusing on a single sector often makes more sense. Industry-specific solutions can help to scale a business and address customer needs more effectively.
One of the better known names in the buy now, pay later space is Wisetack. In a recent round of funding, the company rounded out a small sextet to take a bigger bite out of the aforementioned beast. The team is looking to double in size over the course of the next year. As you can imagine, it’s going to need all the help it can get. With the help of a few seasoned industry veterans, Wisetack can hone in on its mission statement and get to work. Having a proven track record, the company is now poised to take the helm. Wisetack is a veritable one stop shop for all of your fintech needs. Its suite of consumer finance offerings include Wisetack, a mobile and online platform for enabling buy now, pay later purchases; Afterpay, an industry leading provider of consumer financing solutions; and, Housecall, a full-service solution for home service companies.