Instalment payments platform, Sezzle has entered a business partnership with Ally Lending, the B2B2C lending arm of Ally Bank, the banking subsidiary of Ally Financial.
Ally Lending enables monthly fixed-rate instalment-loan products that extend up to 60 months in length and US$40,000 per instalment plan through a fully digital application process. Ally Lending is backed by the number one digital bank in the US, Ally Bank.
“Our collaboration with Ally Lending enhances our customer financing offerings, making it possible for consumers to better manage their finances,” Sezzle executive chairman and CEO, Charlie Youakim said.
“Ally’s dedication to its customers and commitment to innovation aligns with our own vision and culture – making this partnership a good fit for us.”
The culture, technology, and strong foundation of Ally Financial allow Ally Lending to continually evolve its financing products, services, and experiences.
The partnership between Ally Lending and Sezzle will give Sezzle merchants and shoppers access to long term financing options, complementing Sezzle’s existing short-term, interest-free offering.
“We empathise with the economic situation millions of Americans now face. We’re proud to partner with Sezzle to offer budget-friendly, responsible financing options, so consumers can feel more secure when making the purchases they need,” Ally Lending president, Hans Zandhuis said.