on the table through rejected applications and abandoned purchases. Vyze’s financing platform helps retailers extend more credit to consumers — increasing sales and improving the customer experience.”
Vyze, which has 45 employees, is currently being used in more than 2,000 stores in the U.S., as well as e-commerce sites and call centers.
The company generates revenue by taking a percentage of each completed transaction through its service.
Austin’s venture capital funding has been on an upswing as the year goes along. A total of $330 million was raised by 43 companies during the quarter, according to a survey by PricewaterhouseCoopers and CB Insights.
That was a 182 percent increase from the first quarter, when 17 Austin-area companies received a combined $117 million.