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Tymit

“Can a UK FCA-regulated instalment credit platform become the go-to white-label BNPL infrastructure for major retail and travel brands?”

Founded2017
HQLondon, United Kingdom
FoundersMartin Magnone, Nicolas Magnone
Total raised$114.1M
Latest roundSeries A
IndustryFintech / Lending
The story

Founded in 2017 by brothers Martin and Nicolas Magnone as a consumer instalment credit card targeting fairer credit in the UK, Tymit launched the 'world's first instalment credit card' on Visa rails, using Marqeta for card issuing and Transact Payments Limited (TPL) as the card issuer. After raising a Series A, Tymit pivoted upmarket toward a B2B white-label embedded finance proposition, offering merchants in retail and travel branded instalment programmes with no merchant fees, operating as the technology and lending orchestrator. Frasers Group's 42.8% stake (disclosed circa 2024) signals a strategic alignment with a large UK retailer as a potential embedded instalment distribution partner.

Last 12 months
2024
Product timeline
2017
Tymit Limited incorporated in the UK as a credit card provider focused on instalment-based lending.· pivot
2021
Partnered with Marqeta to power its app-based virtual and physical Visa credit card issuing.· card
2021
Announced Series A fundraise to expand merchant instalment proposition.· banking
2023
Pivoted to white-label B2B instalment platform for retail and travel partners under the 'Tymit for Partners' brand.· pivot
2024
Frasers Group plc became largest shareholder with a 42.8% stake.· acquisition
Regulated entities
Consumer Credit Lender
UK FCA
Tymit Limited
The stack
Banking / BaaS
Transact Payments Limited
Card issuing
Marqeta
Lending
Tymit Limited (in-house)Instalment credit card (0% over 3 months)Longer instalment plans (up to 36 months)White-label instalment programmes for retail partnersWhite-label instalment programmes for travel partnersUp to £12,000 credit line for end customersCard-linked instalments (instantly issued virtual Visa card)Embedded instalments (API-integrated)
Open banking
Truelayer
Sponsor bank
Transact Payments Limited
Accounting gap: none