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Splitit has been recognized in the Financial Times list of Americas' Fastest Growing Companies 2023, ranking 54th out of 500 companies based on revenue growth from 2018 to 2021. This acknowledgment highlights the effectiveness of Splitit's unique Installments-as-a-Service platform, which allows merchants to offer consumer credit solutions without additional applications or fees. The company’s technology addresses key issues faced in the Buy Now, Pay Later sector, enhancing customer experience and driving sales. CEO Nandan Sheth expressed pride in the team’s achievements as they continue to expand their market presence.
Splitit has launched an innovative Installments-as-a-Service platform, enhancing the traditional BNPL model by allowing merchants to retain customer relationships. This platform facilitates a smoother checkout process, tapping into existing consumer credit without requiring loan approvals, thus reducing friction. OCM, a major player in college e-commerce, will adopt this solution, aiming for up to 4x higher conversion and 30% increased average order value. Splitit aims to expand its services globally, offering an integrated experience for both local and international merchants.
Splitit Payments Limited reported a record merchant sales volume (MSV) of US$94M for Q4 2021 by November 30, exceeding any previous quarterly totals with one month still to go. This includes US$24M from the APAC region, marked by impressive 836% YoY and 451% QoQ growth, especially in Japan. The company achieved US$11M in MSV over the Black Friday and Cyber Monday weekend. Splitit integrated with Wix and ranked No. 66 in the Deloitte Technology Fast 500, with a revenue growth of 2,486% from 2017 to 2020.