About Snap Finance
Snap Finance is a company based in Salt Lake City (United States) founded in 2012.. Snap Finance has raised $30.09 million across 4 funding rounds from investors including BMO Harris Bank. Snap Finance offers products and services including Lease-to-Own Financing, Installment Loans, and Retail Installment Contracts. Snap Finance operates in a competitive market with competitors including Klarna, Afterpay, Zip, Sunbit and Sezzle, among others.
- Headquarter Salt Lake City, United States
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Snap Finance Llc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$30.09 M (USD)
in 4 rounds
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Latest Funding Round
$21 M (USD), Series B
Oct 03, 2022
- Investors
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Employee Count
Employee Count
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Products & Services of Snap Finance
Snap Finance offers a comprehensive portfolio of products and services, including Lease-to-Own Financing, Installment Loans, and Retail Installment Contracts. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Allows consumers to lease products and own them via payments.
Offers loans for purchases repaid in fixed installments.
Provides agreements for buying items with scheduled payments.
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Software Development Team
41 people
Sales and Marketing
29 people
Leadership Team
20 people
Product Management Team
20 people
Legal and Compliance
12 people
Senior Team
10 people
Data Analysis and Operations Team
9 people
Finance and Accounting
8 people
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Funding Insights of Snap Finance
Snap Finance has successfully raised a total of $30.09M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $21 million completed in October 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series B — $21.0M
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First Round
First Round
(04 Oct 2013)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2022 | Amount | Series B - Snap Finance | Valuation |
investors |
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| Aug, 2017 | Amount | Debt – Conventional - Snap Finance | Valuation |
investors |
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| Oct, 2014 | Amount | Series A - Snap Finance | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Snap Finance
Snap Finance has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include BMO Harris Bank. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Wealth management services are provided by BMO Harris Bank.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Snap Finance
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Snap Finance
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Snap Finance Comparisons
Competitors of Snap Finance
Snap Finance operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Klarna, Afterpay, Zip, Sunbit and Sezzle, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Point-of-sale financing is facilitated through an online platform for purchases.
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| domain | founded_year | HQ Location |
A buy now pay later service is offered by Afterpay.
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| domain | founded_year | HQ Location |
Payment solutions are provided for deferred purchasing by Zip.
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| domain | founded_year | HQ Location |
Point-of-sale financing is facilitated via an online platform for retailers.
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| domain | founded_year | HQ Location |
Point-of-sale financing is enabled for installment purchases at partnered retailers.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Snap Finance
Frequently Asked Questions about Snap Finance
When was Snap Finance founded?
Snap Finance was founded in 2012 and raised its 1st funding round 1 year after it was founded.
Where is Snap Finance located?
Snap Finance is headquartered in Salt Lake City, United States. It is registered at Salt Lake City, Utah, United States.
Is Snap Finance a funded company?
Snap Finance is a funded company, having raised a total of $30.09M across 4 funding rounds to date. The company's 1st funding round was a Series A of $6.09M, raised on Oct 04, 2013.
What does Snap Finance do?
Snap Finance was founded in 2012 in Salt Lake City, United States, and operates in the financial services sector. Point-of-sale installment financing and pay-later options are provided on its balance sheet via partner merchandise stores. Online personal credit is extended to individuals lacking credit history for shopping at these stores, supporting access to goods without traditional lending requirements.
Who are the top competitors of Snap Finance?
What products or services does Snap Finance offer?
Snap Finance offers Lease-to-Own Financing, Installment Loans, and Retail Installment Contracts.
Who are Snap Finance's investors?
Snap Finance has 1 investor. Key investors include BMO Harris Bank.
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