New York-headquartered fintech company ChargeAfter has raised $8 million in a series A funding round led by Propel Venture Partners, the investment arm of Spanish banking group Banco Bilbao Vizcaya Argentaria, SA, ChargeAfter announced Wednesday.
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Founded in 2017 by Israeli entrepreneur Meidad Sharon, with additional offices in Sunnyvale, California, and Tel Aviv, ChargeAfter develops a system that allows retailers to offer customers instant credit and financing plans.
The company intends to use the funding to hire expand its sales, marketing, and research and development teams, and its network of merchants and lenders, Sharon said in a statement.
Additional participants in the round, which brought ChargeAfter’s total funding raised to date to $9.5 million, include Israel-based venture fund PICO Venture Partners, Sunnyvale, California-based accelerator Plug and Play Tech Center, and NYSE-listed consumer financial service company Synchrony Financial.