STAMFORD, Conn., May 17, 2024 /PRNewswire/ -- Bastion Management
("Bastion"), a private investment firm focused on asset-based
lending in the specialty finance sector, announced today that
it agented a senior debt investment of $150 million, with an accordion up to
$225 million, in Sezzle Inc.
(NASDAQ:SEZL) ("Sezzle" or "Company") to refinance the previous
$100 million facility established in
October 2022 with Bastion and
affiliates. The new facility will provide additional liquidity to
fund the Company's future growth in the U.S. and Canadian
markets and pursue new strategic initiatives.
"We're thrilled to extend our lending partnership with Bastion,
a key growth partner of ours for many years," stated Karen Hartje, Sezzle's Chief Financial Officer.
"This larger and lower-cost facility will significantly enhance our
ability to fund the growth of new strategic initiatives and sustain
our profitable growth trajectory. We are excited and optimistic
about the potential this extended partnership holds for Sezzle's
future."
Jay Braden, CEO of Bastion,
added, "We are excited to announce this new chapter in the
longstanding partnership between Sezzle and Bastion and through
this new credit facility support the management team in their
efforts to innovate and expand their offerings to further empower
consumers in today's dynamic market."
About Bastion Management
Bastion is a private investment firm that provides creative
financing solutions to small and midsized businesses operating in
the alternative finance space throughout North America and in the UK. Over a decade
since its inception, Bastion has closed over 45 transactions and
over $1.3bn in total commitments to
traditional consumer lending platforms and emerging companies in
the financial technology industry. Bastion has a successful track
record partnering with companies that have strong management teams
and committed equity backing in support of the initial growth stage
through to public listing.
About Sezzle
Sezzle is a fintech company on a mission to financially empower
the next generation. Sezzle's payment platform increases the
purchasing power for millions of consumers by offering
interest-free installment plans at online and in-store locations.
Sezzle's transparent, inclusive, and seamless payment option allows
consumers to take control over their spending, be more responsible,
and gain access to financial freedom. For more information visit
sezzle.com.
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SOURCE Bastion Management