equipifi closed a $34 million Series B, led by Left Lane Capital, to build what CEO Bryce Deeney calls the network that will power financial institutions in buy now, pay later.
CEO Bryce Deeney was direct: financial institutions are best positioned to own the BNPL space, and equipifi is the infrastructure layer that gets them there. Left Lane managing partner Dan Ahrens called it the defining network for flexible consumer payments across financial institutions. It’s a thesis Left Lane is buying before the credit union market has fully converted.
What does the investor actually get? A B2B BNPL platform embedded in banks and credit unions’ existing digital banking apps. The numbers support the case: 49% of credit union members already use BNPL from providers outside their institution. A PYMNTS Intelligence report found 38% of credit unions said they’d likely adopt BNPL if their own institution offered it, and bringing that activity in-house lets credit unions better understand member needs and preserve engagement.
equipifi has been moving fast. In April it teamed with Velera, a credit union service organization, to let Velera’s clients launch in-house BNPL programs. In March, a partnership with CUSG added another distribution channel for credit unions. North Star Community Credit Union in North Dakota has already gone live on the platform.
New capital goes toward expanding the financial institution partner count and deepening product capabilities. Whether credit unions convert that 38% stated intent into live programs is the question Left Lane just bet $34 million on.
— Diana Kowalski