Baltimore Startup Blispay Raises $12 Million Dollars
Last week we brought you the story about the Kauffman Foundation’s latest Main Street report. In the report Baltimore slipped down 13 notches for startups and entrepreneurship. It seems that the report may be a little biased. Last week we also reported that Betamore, Baltimore’s original startup and co-working space, had expanded to a second location. Today, the interwebs are buzzing over Blispay.
Blispay is a Baltimore area fintech startup that levels the credit playing field for mom and pop, independently owned and small regional retail chains, against Big Box financing options. We’re all familiar with the fact that you can walk into Home Depot, want that new zero radius lawn mower for $3,000 and get quick approval financing in seconds. Blispay is able to offer similar services to smaller retailers.
Consumers can apply online for a Blispay Visa card that can be used at participating retailers. They can use their mobile device or a regular computer. Approval is in minutes and for purchases over $199. With Blispay consumers can purchase anything with financing from tattoos to TV’s to lawnmowers.
The company is no stranger to alternative financing, founder Greg Lisiewski spent time at PayPal before opening Blispay in the popular National Bohemian (Natty Boh) tower in Baltimore.
The company reported last week that they raised $12 million dollars from existing investors; FirstMark, and NEA. Camden Partners and F-Prime Capital also joined in this round.
With the announcement of their new funding they also assed Bill Me Later co-founder, Vince Talbert, to the company’s board of directors. Bill Me Later is the alternative finance company PayPal acquired to help customers finance purchases. Talbert is a partner in the Baltimore based Camden Partners. This isn’t the first time Liseiweski and Talbert will work together. Lisiewski worked under Talbert at Bill Me Later.
Lisiewski has no intentions of growing the company anywhere but Baltimore. “For me, it is not only important to build a company in Baltimore, but the more involvement we can have in the ecosystem, the better,” he told technical.ly Baltimore.