Zebit, a San Diego-based company that combines e-commerce with credit solutions, secured up to $75 million in debt financing.
Alexandria, Va.-based firm Route 66 Ventures announced it had committed the financing on Oct. 11.
Zebit provides a closed marketplace with interest-free credit for buying electronics, appliances, home goods and other products. The company plans to use the additional funds to develop new underwriting models, financing solutions and expand the assortment of brands in its marketplace.
“The Route 66 partnership allows Zebit to exponentially expand our reach,” Zebit Chief Financial Officer Steve Lapin said in a release. “Route 66’s financial support and extensive knowledge in our space will help us execute our vision and continue to transform e-commerce for the millions who cannot access affordable credit today.”
The company, which was founded in 2015, closed a $12 million series B round in June led by Crosslink Capital.