Fundraising Fox

Bread

Acquired

George Town · Founded 2017 · Cayman Islands corporation · 5 known investors

Bread is a technology-driven digital payments company offering omnichannel point-of-sale installment and buy-now-pay-later solutions.

Also known as Bread Financial · Bread Financial Holdings · Lon Inc.

Founders & leadership

BT
Brent TraidmanExecutive

Board

ND
Nathan DayBoard director

Investors · 5

Reported raises · per SEC filings

Form D private placements

$1.3M disclosed across 1 round · 2017

$1.3MraisedMar 2018 · 4 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Brent TraidmanDirector
  • Nathan DayDirector
Offering amount
$1.3M
Amount sold
$1.3M
Minimum investment
$60K
First sale
Nov 2017
Incorporated
Corporation, Cayman Islands, 2017
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Company profile

researched Aug 2026

Bread, the trademark under which Lon Inc. operated, is a technology-driven digital payments company co-founded by Daniel Simon. It provides a consumer purchase finance and payments platform, offering an omnichannel solution for retailers alongside platform capabilities for bank partners. Its technology supports installment and buy now, pay later products at the point of sale and integrates with online, mobile and brick-and-mortar shopping environments.

In December 2020, Alliance Data Systems Corporation (NYSE: ADS) completed the acquisition of Lon Inc. Following the transaction, Bread retained its customer care center in Tampa, Florida, and continued to support more than 400 existing clients from its Innovation Center in New York City, while its employees — many of them technology and product engineers — joined Alliance Data. The Bread name is carried forward by Bread Financial (NYSE: BFH), a financial services company providing payment, lending and saving products to U.S. consumers, including co-brand and private label credit cards, pay-over-time products, general purpose credit cards and savings products.

Business model

Bread licenses its digital payments and purchase-finance technology platform to retailers and bank partners, enabling installment lending and buy now, pay later offerings at the point of sale across online, mobile and physical retail channels.

Traction

Bread served over 400 existing clients as of the December 2020 close of the Alliance Data acquisition, operating a customer care center in Tampa, Florida and an Innovation Center in New York City.

Latest developments

Bread Financial (NYSE: BFH) reported that it marks 30 years in 2026 and, in the first half of 2026, awarded grants to 19 nonprofits, gave $1.87 million in grants over a three-month period, renewed a $1.8 million partnership grant with Ruling Our eXperiences, and made a $300,000 gift to The Kids Mental Health Foundation.

Full profile — market position, technology, go-to-market, geography, history

Market position

At the time of its acquisition, Bread supported more than 400 clients and was positioned as the point-of-sale installment and buy now, pay later capability within Alliance Data's Card Services business, which also includes private label, co-brand, general purpose and business credit card programs and Comenity-branded financial services.

Technology

A flexible digital payments platform supporting installment and buy now, pay later products, integrating with online, mobile and brick-and-mortar shopping environments, and providing omnichannel retailer tools and bank-partner platform capabilities.

Go-to-market

Retailers and brand partners seeking point-of-sale financing, bank partners using the platform's capabilities, and, through Bread Financial, U.S. consumers using credit card, pay-over-time and savings products.

Geography

United States operations including a New York City Innovation Center and a Tampa, Florida customer care center; Bread Financial serves U.S. consumers and also has associates in India.

History

Bread was co-founded by Daniel Simon as a consumer purchase finance and payments startup. Alliance Data Systems entered a definitive agreement to acquire Lon Inc., operating as Bread, on October 28, 2020, and closed the transaction on December 5, 2020. After the sale, Simon co-founded Coast, a fleet payments company, with former Lyft executive Andrew Woolf.

Compiled by commissioned research from 7 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Existing clients supportedDec 2020400 clients
Nonprofit grants awarded (Bread Financial)Aug 2026$1.9M

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Timeline · 2

launches, deals, and filings
Dec 2020
Alliance Data Systems completes acquisition of Bread (Lon Inc.)

Alliance Data Systems Corporation (NYSE: ADS) closed its acquisition of Lon Inc., operating under the trademark Bread, under a definitive agreement signed October 28, 2020. Aggregate consideration was valued at approximately $450 million at signing, consisting of cash and approximately 1.9 million shares of Alliance Data common stock, with a portion of the cash consideration deferred for one year. TechCrunch separately reported the sale as being for over $500 million.

$450M source ↗

Oct 2020
Definitive agreement signed for Alliance Data acquisition of Bread

Alliance Data Systems entered into a definitive agreement to acquire Lon Inc., operating under the trademark Bread.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

Legal entities · 1

corporate structure
BreadCayman Islands

In the news

Research sources · 7

primary sources listed

7 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Bread do?
Bread is a technology-driven digital payments company offering omnichannel point-of-sale installment and buy-now-pay-later solutions.
Who are Bread's investors?
Bread's investors include Colle Capital Partners, Menlo Ventures, Red Swan Ventures, Montage Ventures, RRE Ventures.
How much funding has Bread raised?
Bread has disclosed $1.3M raised across 1 round.
Where is Bread headquartered?
Bread is headquartered in George Town.