Tymit, a UK-based BNPL provider, has raised GBP 23 million (~USD 27 million) in a Series A funding round led by Frasers Group. This brings the company’s total funding to GBP 73 million (~USD 85 million).

The funds are allocated to support the launch of its white-label BNPL solution for merchants and product development. 

Tymit was originally a B2C BNPL solutions provider allowing merchants to let their customers spread their purchases into 3 interest-free installments. The company has more than 40,000 active users and reported a transaction value of GBP 75 million (~USD 87 million) in the past 12 months. 

Analyst QuickTake : The BNPL infrastructure space is less populated than the other segments in the industry. However, it does have a strong incumbent presence with players such as Visa, Mastercard, and Deutsche Bank. Divido, which is based in the UK, also offers infrastructure solutions and currently has big-name clients including BNP Paribas, Nordea, Mercedes-Benz, Lastminute.com, and Lenovo.