The State of California Department of Business Oversight has granted US-based alternative payments leader, Sezzle (ASX:SZL) a lending license in the State of California.
Sezzle’s Executive Chairman and CEO Charlie [You-ee-cam] Youakim says “we are thankful to the California Department of Business Oversight for their prompt and open approach to resolving this matter in such a timely and professional manner.
This is a great result for Sezzle and provides the platform for us to continue our planned growth strategy in the state of California.”
Prior to receiving the lending license, Sezzle was operating in California under a retail installment structure, whereby retailers initiated the instalment loan and transferred the loan to Sezzle to service.
Shares in Sezzle (ASX:SZL) are trading 20.9 per cent higher at $2.14