SplitIt: Inception to IPO

Description:

SplitIt is a FinTech company in the payments space. SplitIt offers a novel solution to businesses and merchants who wish to allow their customers to split one-time purchases into no-fee monthly installments with no need for an additional credit application. SplitIt makes money by charging retailers a service fee but does not charge consumers late fees. With headquarters in Atlanta, GA, and offices in Australia, London, and Japan, SplitIt’s global footprint extends to hundreds of merchants in 27 countries including many of the Internet’s top 500 retailers. This case study tells the SplitIt story, from the inception of its operating idea in December 2007 through its initial public offering in 2019 at the Australian Stock Exchange, where it trades under the ticker symbol SPT. The case discusses some of the dilemmas that SplitIt’s managers faced during that time.