Zibby Announces $13.5 Million Investment led by CURO Financial Technologies Corp. and MissionOG
Zibby, the omnichannel lease-to-own payment option for online and in-store shopping, today announced a $13.5 million investment led by CURO and MissionOG, with participation from Blumberg Capital, Tribeca Venture Partners and other institutional investors. This brings Zibby’s total capital raised to more than $150 million. With the investment, Zibby will further expand its presence among retailers to offer non-prime and near-prime customers a monthly payment option for furniture, appliances, electronics and other consumer durables.
Launched in 2014, Zibby’s mission is to reduce costs and expand access to financing for non-prime consumers. Today, Zibby is available at more than 330 retailers in 46 states. By leveraging complex machine learning algorithms and risk analysis, the platform makes real-time approval decisions for retailers. Zibby offers its lease-to-own product with terms ranging from 12 to 24 months for a variety of consumer durables at some of the nation’s largest retailers.
With Zibby, retailers can now provide a manageable monthly payment option to the 50 percent of US adults with low and evolving credit scores. By providing 30-second pre-approvals at the speed of retail, both online and in-store, Zibby efficiently unlocks a $49 billion market for non-prime consumers at the point of sale.