Sezzle Names Former PayPal Exec To Lead Sales

Sezzle, the Minneapolis-based installment-based payments platform, has announced the appointment of Reid Bork to its leadership team.

Bork, who served as senior director of global accounts at PayPal for a dozen years, was named vice president of enterprise sales. In the newly created role, he will be responsible for leading the company’s large-scale retail acquisition efforts.

Bork will spearhead Sezzle’s enterprise business development efforts, as the company focuses on client acquisition following its recent capital raise.

As PYMNTS recently reported, the buy now, pay later (BNPL) firm raised $55 million in its latest capital round. Sezzle said the cash will be used to further the company’s growth strategy and strengthen its balance sheet.

“The Sezzle board is excited to see another great addition to the leadership team, which will further accelerate our push into the large-scale enterprise market,” said Kathleen Pierce-Gilmore, a Sezzle board member, in a statement. “Reid is an expert in the large-scale merchant acquisition space, and we are confident that he is the ideal person to take Sezzle’s enterprise business to the next level.”

Earlier in his career, Bork played a major role in large enterprise strategy at Bill Me Later, the company said. In 2008, eBay, PayPal’s parent, acquired Bill Me Later for $820 million in cash and $125 million of outstanding stock options. At PayPal, Bork reportedly became a key member of the unit responsible for helping the company enter and navigate the large enterprise retail vertical.

“I look forward to bringing my experience in enterprise sales to the fast-paced, forward-thinking culture at Sezzle and the rapidly accelerating ‘buy now, pay later’ space,” said Bork in a statement. “These are unprecedented times, and retailers are looking for innovative solutions to support their customers…”

In February, the four-year-old FinTech startup announced it had topped one million customers. Three years after its launch, Sezzle hit the half-million customer mark and doubled that in under six months, the company said.

In January, Sezzle was denied a crucial lending license from California. Meanwhile, rival BNPL company Afterpay’s application was approved by the state.

The company offers U.S. and Canadian consumers modest, interest-free loans, then takes ownership of the contract agreements between merchants and consumers to process payments.