Zebit makes no-interest financing a virtual reality
Zebit, an e-commerce platform aimed at monetarily strapped consumers with poor or no credit, is on the rise.
Zebit, which advertises itself as the “only e-commerce company that offers zero percent financing,” says it now exceeds 300,000 users who have access to over one million products on its platform, and projects over $100M in revenue in 2019.
Based in San Diego and launched in 2015, Zebit allows anyone over 18 years old with a sustainable source of income to apply to purchase products and pay over time with no interest and no credit check. Zebit manages credit risk by using advanced machine learning models and Big Data to underwrite customers, allocate credit lines and assess order risk. Based on this data, the Zebit platform determines the down payment, product accessibility and checkout options for each user.
Products available on Zebit include new name-brand electronics, appliances, furniture, kids/baby items, sporting goods, tools and jewelry, in original packaging. There is no fee for membership.
“In today’s economy, many consumers with limited access to credit are trying to find cost-effective options to buy what they need for themselves and their families, and Zebit provides a much-needed solution for this underserved market,” said Marc Schneider, CEO, president and co-founder of Zebit. “The company’s rapid growth and booming sales projections showcase the vital need for a financial solution of this type, which redefines the way consumers can access credit for their online purchasing needs.”
Zebit, which advertises itself as the “only e-commerce company that offers zero percent financing,” says it now exceeds 300,000 users who have access to over one million products on its platform, and projects over $100M in revenue in 2019.
Based in San Diego and launched in 2015, Zebit allows anyone over 18 years old with a sustainable source of income to apply to purchase products and pay over time with no interest and no credit check. Zebit manages credit risk by using advanced machine learning models and Big Data to underwrite customers, allocate credit lines and assess order risk. Based on this data, the Zebit platform determines the down payment, product accessibility and checkout options for each user.
Products available on Zebit include new name-brand electronics, appliances, furniture, kids/baby items, sporting goods, tools and jewelry, in original packaging. There is no fee for membership.
“In today’s economy, many consumers with limited access to credit are trying to find cost-effective options to buy what they need for themselves and their families, and Zebit provides a much-needed solution for this underserved market,” said Marc Schneider, CEO, president and co-founder of Zebit. “The company’s rapid growth and booming sales projections showcase the vital need for a financial solution of this type, which redefines the way consumers can access credit for their online purchasing needs.”