Tymit

Tymit is a UK-based BNPL provider that offers both B2C and BNPL infrastructure solutions. The platform allows merchants to let their customers spread their purchases into three interest-free installments. For purchases spread over 6–36 months using the Tymit Card, the company levies an interest of 22.9% APR. The solution also includes features from onboarding and activation to engagement and servicing. Tymit is authorized by the Financial Conduct Authority (FCA) and Payments Service Regulator (PSR) in the UK, making it one of the first BNPL providers to be regulated. As of October 2022, the company had more than 40,000 active users and reported a transaction value of GBP 75 million (~USD 87 million) in the preceding 12 months.

Key customers and partnerships

In February 2024, Tymit partnered with Harley-Davidson to introduce a credit program in the UK and across Europe to expand product reach by leveraging its credit technology with Harley-Davidson's brand. In July 2023, Tymit partnered with Visa to expand the reach of its white-labeled installment payment solutions across the UK and Europe. Through this partnership, Tymit planned to support its business growth by leveraging Visa’s partner network to offer its product to a broad range of financial institutions and merchants across the UK and Europe and strengthen its position in the market.

Funding and financials

The company’s most recent funding was in October 2022 when it raised GBP 23 million (~USD 27 million) in a Series A funding round led by Frasers Group. The proceeds were allocated to support the launch of its white-label BNPL solution for merchants and product development. This follows its GBP 30 million (~USD 41 million) debt financing round in February 2022.