BNPL fintech Jifiti lands European EMI licence from Swedish regulator
Jifiti, a US-based fintech that provides white-labelled embedded lending services, has secured an electronic money institution (EMI) licence from Sweden’s financial regulator, allowing it to operate across Europe.
Jifiti lands European EMI licence
Following a “rigorous” review and qualification process, Jifiti says its newly obtained licence will allow it to serve the “growing needs” of its customers, which includes banks, lenders, financial services and merchants, by providing them with a broader range of payment products and pan-European solutions.
Yaacov Martin, CEO of Jifiti Group, says becoming a licenced e-money issuer not only boosts the company’s growth trajectory, but also furthers its aim to “provide consumers and businesses with access to responsible, affordable financing options from regulated financial entities”.
Founded in 2011 and headquartered in Ohio, USA, Jifiti has offices in Sweden and Israel and provides end-to-end point-of-sale (POS) financing solutions. Its platform supports loans and buy now, pay later (BNPL) options including installment loans, lines of credit, split payments and business financing.
Jifiti’s clients include Mastercard, Citizens Bank, CaixaBank and Credit Agricole, as well as financial service providers including FIS, Finastra and Fiserv. In 2021, it received a $22.5 million investment from existing client IKEA.
