January 13, 2022

Tiger Global backs Accrue Savings’ ‘save now, pay later’ approach to consumer purchases

Buy now, pay later has grown to be an alternative to credit cards, with the trend generating $100 billion in sales last year, more than four times 2020. However, even with the spread out payments, debt accumulation is not easing, causing the Consumer Financial Protection Bureau to now look into the practice.

Accrue Savings, founded in June 2021 by CEO Michael Hershfield, aims to get people saving again with its merchant-embedded shopping experience that rewards consumers for saving up for the things they want to buy.

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