A pair of former PayPal vets are joining Team Sezzle.

Scott Guilfoyle and Annick Fuchs will serve as advisers for the Minneapolis, Minnesota-based payments innovator. Guilfoyle, who was SVP and CTO of PayPal from 2008 to 2012, will join Sezzle as an adviser. Fuchs, former head of legal at PayPal, will be Sezzle’s new legal adviser.

In addition to his work with PayPal, Guilfoyle (right) was CIO of LendingTree, CIO of General Electric, and CIO of Consumer Products at Bank of America. Sezzle plans to leverage Guilfoyle’s diverse background to take on “the giants of payment processing,” said Sezzle CBDO Paul Paradis. Fuchs (below), who launched her law firm fuchsLAW this spring, pointed to her background in fintech in general and payments in specific as one reason why Sezzle was a good fit. “The plans and stage of the company match perfectly with what we specialize in at fuchsLAW.”

Founded in 2016, Sezzle demonstrated its Sezzle Pay solution at FinovateSpring 2016. The company uses bank sign-on and ACH rails to provide lower-cost, immediate payments for retailers. And in charging 1.5% plus 15 cents, Sezzle is half the cost of credit and debit card processing. Sezzle Pay also enables rewards through debit card purchases, providing a 1% reward for consumers that pay via the platform.

Sezzle earned a semifinalist spot in the 2016 Minnesota Cup, the biggest, statewide, new-venture competition in the country. Currently in fundraising mode, Sezzle picked up an investment from Brussels-based E-Merge in June, the same month the company made major additions to its technology team.

Courtesy of Brussels-based fintech fund, E-Merge, Sezzle is $500,000 closer to its fundraising goal of $1.5 million.

Sezzle is a startup based in Minnesota whose initial solution, Sezzle Pay, leverages the ACH rails to provide faster, lower cost payments. With the customer’s bank account details, Sezzle Pay can initiate immediate payments at checkout. “That’s attractive because ACH is such a low-cost payment method,” Sezzle founder and CEO Charlie Youakim explained during his company’s Finovate debut this spring. “Our rate is 1.5% plus 15 cents, that’s half the cost of quoted credit and debit card processing.”  He added: “That’s going to bend the ear of the merchant. That’s going to get Sezzle Pay in the checkout.”

Sezzle CEO Charlie Youakim demonstrated Sezzle Pay at FinovateSpring 2016 in San Jose.

And in order to better compete at the checkout, Sezzle offers 1% rewards for users that click through and pay with Sezzle Pay. This is novel in that while 60% of payments are made with debit cards, “you’d be hard pressed to find a debit card that can give you rewards,” Youakim said. The solution also appeals to millennials, according to Youakim, who noted that only 37% of millennials have a credit card. “The other 63% have no way of getting rewards,” he said.

Writing about the investment at the Sezzle blog, Youakin thanked investors and referenced a number of new hires to help further build the Sezzle platform, including Python, Django, and Swift developers Sukhneer Guron and Rishi Mukherjee, and a pair of “young Ivy Leaguers,” Sean Kilgarriff and Killian Brackey. “We’ve already put some of this capital to use,” he wrote. “I’m excited to see what this team can do now that we have the resources and support that we require to reach our goals.

Founded in January 2016 and headquartered in Minneapolis, Minnesota, Sezzle demonstrated its Sezzle Pay technology at FinovateSpring 2016.  The company is a 2016 semifinalist in the Minnesota Cup, the largest statewide, new-venture competition in the U.S., and was profiled in SuperbCrew.com earlier this month.