The round was led by Austin Ventures and StarVest Partners and will enable the company to expand into additional markets and product lines.
“We’re building a unique company here in Austin that will help both retailers and lenders unlock the full potential of their businesses. Our goal is to help businesses provide the financing consumers need to buy the products they want, when they want them,” said Keith Nealon, Vyze’s CEO, in a statement. “Investments like these enable us to grow and create better solutions to meet the challenges merchants and lenders are facing today.”
In addition to improving Vyze's platform technology the company will also invest in sales and marketing.
“What’s exciting about Vyze is the huge potential for growth,” said Chris Pacitti, general partner with Austin Ventures, in a statement. “There’s a huge need for financing solutions among retailers as well as manufacturers, and those needs will continue to grow as consumers increasingly turn to online and mobile platforms when researching and buying products.”
Vyze was formerly known as NewComLink. This infusion of capital brings their total funding to $35 million.
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