Online Market Surpasses 300K Users and Projects $100M in Revenue in 2019
San Diego CA, January 30, 2019 – Zebit, the only eCommerce company that offers zero percent financing, today announced rapid company growth, as it continues to establish a leadership position in online retail. Zebit has now exceeded over 300K users and projects over $100M in revenue in 2019. In addition, the company today announced that users now have access to over one million products via the Zebit Market.
Zebit users can now shop millions of products and pay over time with no interest, no membership fees and no credit score needed. Zebit understands that money is tight for millions of Americans and 80% of consumers currently living paycheck-to-paycheck. Many cannot pay in full at the point of sale and typically turn to predatory credit options that cost $70B/year in interest and fees, further impacting their finances.
By offering a zero percent payment option, consumers can purchase goods they need and pay the balance over time, even if they have poor or no credit. Zebit manages credit risk by using advanced machine learning models and Big Data to underwrite customers, allocate credit lines and assess order risk. Based on this data, the Zebit platform determines the down payment, product accessibility and checkout options for each user.
“In today’s economy, many consumers with limited access to credit are trying to find cost-effective options to buy what they need for themselves and their families, and Zebit provides a much-needed solution for this underserved market,” said Marc Schneider, CEO, President and co-founder of Zebit. “The company’s rapid growth and booming sales projections showcase the vital need for a financial solution of this type, which redefines the way consumers can access credit for their online purchasing needs.”
Zebit gives members access to millions of products and brands including Apple, Samsung, Nintendo, Black & Decker, Cuisinart, and Whirlpool from major wholesale suppliers including Best Buy, D&H and Ingram Micro. Products available on Zebit include name brand electronics, appliances, furniture, kids/baby items, sporting goods, eCertificates, tools, jewelry and more.
“Zebit was founded to provide a radically better financial alternative for all consumers and believes everyone deserves access to lifelong, interest-free credit,” continued Schneider.
Consumers can join at zebit.com and browse the products available. Anyone over 18 years old, with a sustainable source of income can apply – no credit score needed.
To date, Zebit has received over $39M in funding from major investors including Route 66 Ventures, Crosslink Capital, Wildcat Venture Partners, Correlation Ventures, Strome Group, Leapfrog Ventures and ULU Ventures.
Zebit is an e-commerce marketplace and custom credit solution that serves the millions of underserved consumers who value the proposition of buy now, pay over time at 0% interest without a traditional credit check. By providing underserved consumers with up to $2,500 of interest-free credit and access to a marketplace of millions of brand name products, Zebit gives members the ability to transact online and offline at everyday prices while spreading their payments over time. Zebit is located in San Diego and is backed by Venture Capital firms that include Crosslink Capital, Wildcat Venture Partners, Leapfrog Ventures, Ulu Ventures, and Correlation Ventures. Learn more at https://zebit.com/.
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