Bastion Management, a private investment firm focused on asset-based lending in the specialty finance sector, agented a senior debt investment of $150 million, with an accordion up to $225 million, in Sezzle to refinance the previous $100 million facility established in October 2022 with Bastion and affiliates. The new facility will provide additional liquidity to fund the company’s future growth in the U.S. and Canadian markets and pursue new strategic initiatives.
“We’re thrilled to extend our lending partnership with Bastion, a key growth partner of ours for many years,” Karen Hartje, chief financial officer of Sezzle, said. “This larger and lower-cost facility will significantly enhance our ability to fund the growth of new strategic initiatives and sustain our profitable growth trajectory. We are excited and optimistic about the potential this extended partnership holds for Sezzle’s future.”
“We are excited to announce this new chapter in the longstanding partnership between Sezzle and Bastion and, through this new credit facility, support the management team in their efforts to innovate and expand their offerings to further empower consumers in today’s dynamic market,” Jay Braden, CEO of Bastion, said.
