Thursday , July 9, 2020

Eye on Fintechs: Sezzle Sizzles With 1 Million Users and Curve Opens a U.S. Office

Buy-now-pay-later specialist Sezzle Inc. said it surpassed 1 million consumers using its online payment service. Launched in 2016, Sezzle said it had reached 500,000 customers only in August 2019. At the end of the fourth quarter, the company, with corporate headquarters in Australia, said more than 10,000 merchants offer its e-commerce payment service.

“One million active users is a huge operational achievement, and a testament to the value our users see in our product,” Paul Paradis, Sezzle chief revenue officer and cofounder, said in a statement. Its U.S. office is in Minneapolis.

A Curve card includes an EMV chip and contactless payment capability.

In related news, card consolidator Curve 1 Ltd. opened a U.S. office in Brooklyn, N.Y., and anticipates employing 185 individuals by 2024. London-based Curve, which launched in Europe in 2018, has more than 900,000 users in Europe who have spent approximately $1.5 billion using the platform.

Curve’s service enables consumers to consolidate all of their Mastercard and Visa cards into a single card or app. In November, Samsung Electronics Co. Ltd. said it would integrate Curve into its Samsung Pay mobile-payment service. 

“U.S. consumers aren’t clamoring for a different, or additional, bank—they want their financial products to provide a better user experience,” Amanda Orson, the new Curve vice president, head of North America, said in a statement. “Curve’s all-in-one value proposition, ease of use, and obsession on customer experience are exactly what the U.S. market needs.”

Curve says it is committed to investing at least $16.7 million in research and development through the Brooklyn office by 2029. Overall, Curve has raised $74.2 million, according to Crunchbase.

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