Zibby closes $150M debt facility

POS and lease payment solution provider Zibby made a series of announcements this week, highlighted by the closing of an additional $150 million debt facility with Victory Park Capital.

Tony Lauro is Zibby’s new CFO. Most recently the CFO at JPMorgan Chase Commerce Solutions, Mr. Lauro led a team of more than 80 people across North America and Europe. He was also CFO at Chase PaymentTech.

Zibby doubled their origination volume in 2016 by helping clients target 65 million non-prime American consumers . They also recently partnered with Sears Outlet, Ghostbed, Vyze and Curacao.

The company offers retailers a risk-free payment option for durable goods catering to consumers who often do not qualify for traditional financing.

“Online retailers are a bit behind the B&M (bricks and mortar) counterparts in terms of sophistication around customer financing options,” Zibby CEO Brandon Wright said. “We’re excited to connect with leading online retailers at eTail and help them grow sales by offering a payment solution for the 65 million non-prime consumers who historically haven’t been able to shop online.”