Buy now pay later company Sezzle is extending its product range, courtesy of a partnership with US fintech Ally Financial.

Sezzle’s current offering allows consumers to pay for their goods by making four payments over six weeks.

The company reported that at June 30 it had 1.5 million active customers – up from 430,000 at the same time last year. It had 16,112 active merchants – up from 5048.

Underlying merchant sales during the six months were US$307.4 million – up from US$70.2 million in the previous corresponding period.

Sezzle will work with Ally Financial’s Ally Lending division to offer a 60-month instalment plan, with purchase values up to US$40,000.

Sezzle’s ASX statement did not make clear whether the new product would be a no-interest instalment arrangement or a loan.