A leading global monthly instalment payments solution business, Splitit Payments Ltd (ASX: SPT) has registered with AUSTRAC to provide factoring services to merchants and grow its funded merchant model in Australia. The company has also utilised half its interim financing facility with Shaked Partners Fund, L.P due to rapid growth.
- The company has depleted about US$4 million from its interim financing facility as it continues to grow its funded merchant business model;
- By registering with AUSTRAC the company will directly provide funded model to merchants in Australia after pre-requisite vetting and underwriting.
At AEST 01:03PM, the stock was trading at $0.705 per share, up by 7.634% from its previous close.