Finance company FlexiGroup is hoping to capitalise on growth in the "buy now pay later" segment of the consumer finance market by consolidating its Certegy EziPay and OxiPay operations into a single new business called humm.The re-branded service, operating on a single platform, will be available from the end of March. FlexiGroup will transfer 12,000 merchant relationships to humm.The company said one point of difference between humm and other providers, such as Afterpay and Zip, was that humm can handle interest-free transactions up to A$30,000.The consolidation of Certegy and OxiPay is part of a bigger simplification program at FlexiGroup, the company has grown by acquisition over the past decade and has a number of brands in its portfolio. It plans to cut the number of consumer facing brands from 12 to four.It will also retire some legacy systems. It has started work on a streamlined origination process with "instant credit decisions".The company's chief executive, Rebecca James, said a strategic review of the business found that its products set was complex and out of date, its operations hampered by duplication and lack of scalability and its retail partnerships too heavily focused on bricks and mortar.The company also announced yesterday that private equity company Tanarra Capital has committed to invest $25.1 million in the company by way of a placement, giving it 5.1 per cent of FlexiGroup equity.Tanarra Group founder John Wylie will be invited to join the FlexiGroup board.Proceeds of the placement would be used for strategic purposes and for general corporate purposes.The company released its half-year financial report yesterday. Interest income increased 5 per cent to $186.2 million.Net profit was $31.3 million, compared with a loss of $48.9 million in the previous corresponding period. On a cash basis, which the company considers the appropriate measure of maintainable earnings, profit fell from $40.9 million to $31.9 million.Loan impairment expenses rose by around $20 million to $52.9 million. There was a $10 million impairment in one of its commercial programs. The company adopted AASB 9, which requires provisioning on an expected rather than incurred basis, and this also had an impact.The company claims 1.2 million active customers - up 17 per cent over the previous corresponding period.Transaction volume rose 19 per cent to $1.3 billion. Receivables were up 13 per cent to $2.5 billion.