Bastion Management Closes $150 Million Facility with Sezzle

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May 17, 2024, 10:11 ET

STAMFORD, Conn., May 17, 2024 /PRNewswire/ -- Bastion Management ("Bastion"), a private investment firm focused on asset-based lending in the specialty finance sector, announced today that it agented a senior debt investment of $150 million, with an accordion up to $225 million, in Sezzle Inc. (NASDAQ:SEZL) ("Sezzle" or "Company") 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," stated Karen Hartje, Sezzle's Chief Financial Officer. "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."

Jay Braden, CEO of Bastion, added, "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."

About Bastion Management

Bastion is a private investment firm that provides creative financing solutions to small and midsized businesses operating in the alternative finance space throughout North America and in the UK. Over a decade since its inception, Bastion has closed over 45 transactions and over $1.3bn in total commitments to traditional consumer lending platforms and emerging companies in the financial technology industry. Bastion has a successful track record partnering with companies that have strong management teams and committed equity backing in support of the initial growth stage through to public listing.

About Sezzle

Sezzle is a fintech company on a mission to financially empower the next generation. Sezzle's payment platform increases the purchasing power for millions of consumers by offering interest-free installment plans at online and in-store locations. Sezzle's transparent, inclusive, and seamless payment option allows consumers to take control over their spending, be more responsible, and gain access to financial freedom. For more information visit sezzle.com.

SOURCE Bastion Management