Purchasing Power

lendingother lending

STATUS: Acquired/Merged
FOUNDING YEAR: 2001
LOCATION: United States
Last Update: 01/05/2020

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

About

Purchasing Power was acquired by Flexpoint Ford in 2016. The company provides employers a unique benefit to offer their employees: the opportunity to leverage their paychecks to buy big-ticket consumer goods regardless of credit scores. Employees can shop thousands of brand name products, vacation packages, and educational services. Payments are automatically deducted over time from your paycheck. No credit checks are done.

Focus

PRODUCTS & SERVICES

Purchasing Power is an e-commerce company that allows customers to finance purchases through payroll deduction.

REVENUE MODEL

The company generates revenue by selling programs and commissions from e-commerce partners.

Traction

TRACTION COMMENT:

Purchasing Power has serviced more than 400,000 orders from employees of leading companies and organizations across the US from Fortune 500 companies to government agencies.

People

NUMBER OF EMPLOYEES

201-500

INVESTORS:

Bregal Sagemount

KEY EMPLOYEES:

Richard Carrano (CEO); Elizabeth Halkos (COO); Prakash Muthukrishnan (CTO); Wade Pierce (CFO)

Momentum

FUNDED

YES

TOTAL FUNDING COMMENT

The company received debt funding from Bregal Sagemount in January 2016.

LISTED

NO

BASICS

STATUS:

Acquired/Merged

FOUNDING YEAR:

2001

LOCATION:

United States

Views:

9 VISITORS | 18 VIEWS
TOTAL EMPLOYEES
201-500

About

Purchasing Power was acquired by Flexpoint Ford in 2016. The company provides employers a unique benefit to offer their employees: the opportunity to leverage their paychecks to buy big-ticket consumer goods regardless of credit scores. Employees can shop thousands of brand name products, vacation packages, and educational services. Payments are automatically deducted over time from your paycheck. No credit checks are done.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

Focus+
Momentum+
Traction+
People+
Other+

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack