ZipMoney Secures $108M in Financing

▤ Summary

In addition to the credit facility, Victory Park will subscribe for five million fully paid shares in zipMoney to raise $1m.These securities will be subject to a voluntary escrow period of 12 months.The facility allows the company to accelerate its merchant acquisition strategy and provides the funding capacity to support the growth in its consumer finance book.Led by Larry Diamond, managing director and CEO, and Peter Gray, chief operating officer and executive director, zipMoney offers point-of-sale credit and digital payment services to the retail, education, health and travel industries.The company’s platform is entirely digital and leverages big data in its proprietary decisioning credit engine to deliver real-time consumer responses.

$ Funding

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