Henslow advises Payright on Series D Fundraise
Henslow is pleased to announce payment plan provider and Australian fintech Payright has completed a $27 million Series D fundraise through a mix of debt and equity, bringing its total capital raise efforts so far to over $55 million.
Innovation in the financing sector
PayRight is an Australian payment plan provider developed for merchants to accelerate return-on-effort and for making things more affordable to consumers, by spreading the cost of purchases over time, without ever paying interest. PayRight provides merchants with access to a flexible buy now, pay later flexible payment programme option to offer their customers, intended for bigger ticket items that are more considered purchases rather than smaller impulse-driven buys.
Payright adopts responsible lending principles to ensure a positive customer experience, leading to additional referrals and repeat business for merchants.
A longstanding relationship
This is the fourth fundraising that Henslow has undertaken for Payright, as we continue to support the company’s strong growth profile.
This most recent debt and equity raise included professional, sophisticated and institutional investors. This latest capital raise will be used to fuel the company’s next phase of growth, expand operations, further develop the technology platform and enter into new markets.
Putting the funding to use.
Co-founder and joint CEO of Payright Myles Redward said the company has secured sophisticated funding to enable growth in the loan book and increase volume. “We are grateful for the support received from our key strategic partners and investors who have all made a significant contribution to the emergence of Payright as a meaningful participant in the Buy Now Pay Later sector”.
In its first three years of lending, Payright has partnered with over 1,500 merchants and has a customer base of around 20,000.
Henslow is a leading advisor to the fintech sector
Henslow is a leading corporate advisor in the fintech space. In addition to Payright, Henslow has worked with a number of alternative finance clients include the leading ASX-listed invoice finance company CML Group, leading SME lender Moula, and ASX-listed personal lender Wisr.
For corporate advice or investment opportunities in the fintech space, contact:
Andrew Woodmore – awoodmore@henslow.com
Ryan Whitelegg – rwhitelegg@henslow.com
