SmartPay is launching its own funding facility to pay for growth in New Zealand and Australia.
The listed eftpos and merchant services company signs up customers on long-term rental contracts, which are paid back monthly.
Kiwibank and Finance Now provide the funding for SmartPay's rental book at present.
However, SmartPay chief executive Ian Bailey says the company will be able to reduce interest rates and manage its cashflow better by having its own finance facility.
Mr Bailey says the minimum investment is $500,000, which means the offer falls outside the scope the Securities Act.
Mr Bailey says the company has no fundraising target in mind and expects to offer interest rates of between 12% and 13% depending on the investment.
Carlton DFK is managing the facility, while Convenant Trustee will be the trustee of the securities.