SAN FRANCISCO, CA, PayJoy is excited to announce a successful $360 million capital raise, consisting of $150 million in Series C equity and $210 million in debt.
The equity was led by Warburg Pincus, with participation from Invus, Citi Ventures and prior leads Union Square Ventures and Greylock. The debt funding was led by Citi and includes other institutional investors as well as PayJoy's own in-house fund.
PayJoy's mobile locking technology and data science enable financial inclusion for billions worldwide. PayJoy enables people worldwide in emerging markets to purchase a new smartphone on installment payments and to get cash loans using their smartphone as collateral.
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