It's an effort to make the consumer economy work more like the invoice-based business economy

Split Pay has raised $125 million across back-to-back Series A and Series B funding rounds led by Khosla Ventures, giving the credit technology company substantial new capital after it said the business grew 70x over the previous 12 months. Khosla Ventures led the rounds, with participation from a group of venture capital and strategic investors that includes Thrive Capital, MetaProp, Alpaca VC, Moderne Ventures, Intuit Ventures and SciFi VC, according to the company's financing announcement.

Split Pay raised $125 million in a combined Series A and Series B round led by Khosla Ventures to expand its credit technology platform.