Tymit secures £4m in seed funding to expand its credit card platform
The London-based company has raised £4m in debt and equity to develop its customer servicing platform and underwriting practice.
Tymit provides a mobile-enabled instalment credit card that allows customers to plan their repayments and avoid traditional card fees. The London-based company operates a transparent financial service designed to improve consumer financial wellness.
Tymit has raised £4m in a seed funding round comprising a mixture of debt and equity. The London-based company plans to use the capital to build a customer servicing platform and underwriting practice to support its growth as it prepares to launch its app to customers on its waiting list.
The firm offers a mobile-enabled credit card that allows users to pay for purchases in full or split them into instalments ranging from three to 24 months. The product aims to provide transparent pricing and flexible repayment terms without hidden fees.
Use of funds
- 01Continue product development
- 02Scale operations
