Sezzle, Inc. (ASX: SZL), a U.S.-based installment payments platform, announced on Wednesday its long-term financing options with Ally Lending, a personal lending arm of Ally Bank, the banking subsidiary of Ally Financial (NYSE: ALLY). Sezzle reported that the financing solution expands upon its core product, offering longer loan terms for higher ticket transactions.
Speaking about the financing options, Sezzle President, Paul Paradis, stated;
“We heard from our merchants that they were looking for solutions to suit a wider range of products, including higher-priced items. With Ally Lending’s personalized, flexible financing solutions now available on Sezzle’s platform, we offer shoppers a responsible, transparent way to finance higher ticket items over a longer period. It’s a win-win for retailers and consumers.”
Founded in 2016, Sezzle claims to be a public-benefit corporation on a mission to financially empower the next generation. The company explained that it strives to enable all people to take control over their financial futures, be more responsible and gain access to financial freedom by building the most transparent, inclusive, and seamless payments option for online purchasers.
“Sezzle’s mission is to ‘financially empower the next generation’, and to go beyond finance by supporting empowerment across many facets of users’ lives, creating a better world for the next generation through ethical initiatives. New generations are set to inherit the environmental and social crises unfolding today.”
Sezzle recently announced it has received the certification required to achieve B Corp status. Sezzle CEO, Charlie Youakim, revealed at the time:
“Becoming a certified B Corp empowers our entire team, but it is only the beginning. This designation ensures that we hold Sezzle to the highest of standards. Sezzle’s key differentiator among competition is our purpose-driven approach to business. With this designation, we will strengthen this advancement through the collective power of the B Corp community.”
Sezzle further added it proposed a full slate of 2021 B Corp initiatives on both a local and global scale, seen in the following five commitments:
- Planting a tree for every new, active user in partnership with Trees for the Future
- The commitment to be carbon neutral with certification from Climate Neutral, reducing the company’s carbon footprint. That also works with brands like REI, Ministry of Supply, and Allbirds
- Giving a full annual scholarship to the University of Minnesota to a disadvantaged student and launching a new national scholarship
- Providing free financial literacy and needed tools via Sezzle U
- Creating a non-profit fund to support causes as they arise that are in line with the company’s social mission