Fintech Company Bread Secures $126 Million in Equity and Debt Capital

Bread announced it has raised $126 million in equity and debt financing. Menlo Ventures led the equity round, with participation from Bessemer Venture Partners, RRE Ventures, and others. As part of the round, Mark Siegel, Menlo’s managing partner, will be joining Bread’s board of directors. The debt facility was provided by Victory Park Capital.

Bread builds technology solutions that allow merchants to offer pay-over-time financing options to their customers. Its product gives consumers clear and transparent options and provides ecommerce merchants with powerful tools to integrate financing throughout the ecommerce process, increasing conversion and average order value.

“What impressed us most is Bread’s intense devotion to its consumers and its merchants,” said Tyler Sosin, a Menlo partner. “When we speak with them, they simply rave about the product.”

Tyler Ackerman, CEO of The RTA Store, a Bread merchant, said, “Bread’s financing solution has grown The RTA Store’s business and offered our customers the ability to pay in the best way for them. The Bread team is exceptionally responsive, helps us build out our marketing strategy for financing, and works with our team to create the best possible customer experience every time.”

In an official statement, Bread says that it will use the new equity capital to expand its portfolio of merchant partners, further build its engineering team, and improve the product and consumer experience.