Sympl is a financial application that enables consumers to make purchases and pay over time through short-term, interest-free repayment plans without a lengthy application process. The platform enhances e-retailers' sales and conversion rates by allowing customers to shop flexibly while avoiding interest charges.
Funding
$6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
VAFounders
Product
Problem
Many consumers, particularly in emerging markets, lack access to traditional credit and are unable to make purchases, especially online, due to limited payment options. This restricts their purchasing power and hinders e-commerce growth for retailers.
Solution
Sympl provides a buy now, pay later (BNPL) platform that allows consumers to make purchases and pay for them in interest-free installments. The platform integrates with e-retailers, offering customers a flexible payment option without requiring a lengthy application process or traditional credit checks. By offering short-term, interest-free repayment plans, Sympl aims to increase sales and conversion rates for merchants while enabling consumers to shop more conveniently. The service is accessed via a mobile application where users can track their payment schedules.
Target Audience
The primary target audience includes consumers in emerging markets who lack access to traditional credit cards, as well as e-retailers seeking to increase sales and conversion rates by offering flexible payment options.
Features
- Point-of-sale integration with e-commerce platforms via API
- Consumer mobile application for managing payment plans
- Automated payment scheduling and reminders
- No-interest installment plans
- No lengthy application process
- Optional down payment feature
- Support for weekly, bi-weekly, or monthly payment schedules