Splitit reduces interest under $150 million facility via Goldman

By Marisa Wong

Los Angeles, Aug. 2 – Splitit announced it signed an amendment to its existing $150 million receivables funding facility with Goldman Sachs Bank USA.

The amendment reduces interest payable by Splitit in the range of 15% to 20%, assuming certain volumes are achieved.

Additionally, the new commercial terms allow Splitit to be more competitive in the global market, according to a press release.

Splitit is a New York-based global payment solution provider that enables shoppers to use the credit they have earned by breaking up purchases into monthly interest-free installments using their existing credit cards.

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