By Stuart Condie

SYDNEY--Sezzle Inc. said it has entered into a three-year agreement with Target Corp. for the U.S. retail giant to offer consumers its installment payment product in-store and online.

Sezzle on Thursday said the agreement followed the conclusion of a proof-of-concept of the interest-free payment plans with its fellow Minnesota-based firm.

Target last month reported 1Q earnings of US$2.1 billion, compared with US$284 million a year ago. Total revenue rose 23% to US$24.2 billion.

Sezzle's underlying merchant sales for the same period rose to US$375.1 million, from US$119.4 million a year earlier.

Sezzle is listed on the Australian Securities Exchange but is filing for an initial public offering in its native U.S.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

June 02, 2021 19:01 ET (23:01 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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