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Wisetack

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B2C (App)
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Product stage:
Early
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Wisetack is a BNPL provider for in-person services such as home improvements and car repairs. The platform partners with vertical SaaS platforms and integrates with them through its suite of APIs, allowing businesses that use these platforms to offer Wisetack’s BNPL solution to their customers. Platforms in the home services and auto repair sectors, such as Housecall Pro, InvoiceASAP, Quik, and Mobile Tech RX, are already integrated with Wisetack.

Wisetack offers 0%-30% APR financing for 3-60 month periods (depending on the transaction value) in partnership with Hatch Bank. The interest rate on financing depends on the customer profile based on its soft credit check. Its financing is available for purchases between USD 500 and USD 25,000.

The company is led by experienced industry veterans, including its co-founder and CEO, Bobby Tzekin. Tzekin spent seven years at PayPal, ending his tenure as group product manager for merchant solutions. He also spent roughly four years at peer-to-peer lending platform Lending Club as its VP of product management.

Wisetack generates revenue through merchant fees (3.9% fixed rate on the transaction value) and interest on loans. It reported that its loan volume and revenue as of September 2021 were already more than 10x higher compared to the entirety of 2020. In addition, its merchant footprint grew 25x between January 2020 and January 2021.

In September 2021, Wisestack raised USD 45 million in Series B funding led by Insight Partners. Existing investors Greylock Partners and Bain Capital Ventures also participated. The round follows its combined USD 19 million seed and Series A funding announced in February 2021. Wisetack intends to use the fresh funds to double its team of 40 by September 2022 and move into new verticals such as auto repair, dental, veterinary, and elective medical services.

Key competitors: None comparable (Wisetack offers BNPL for in-person services such as home improvements and car repairs)

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Key stats
Featured companies
95
Total funding (USD)
25.6 Bn
Total addressable market (USD)
24.5 Bn
Key competitors
 
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Product Overview
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Product Metrics
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Company profile
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Recent Updates

Partnerships
Jun 15, 2023
Wisetack partners with Citizens Pay to offer embedded installment payment solutions
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Funding
Sep 9, 2021
Wisestack raises USD 45 million in Series B funding
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Company Brief


HQ location:
460 Brannan St. #78384 San Francisco CA USA
Founded year:
2018
Employees:
101-250
Total Funding:
USD 84.4 million
Last Funding
USD 20.4 million, Mar 2024

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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