Splitit (ASX:SPT) shares rise to A$0.095, marking a 25% jump and recording their biggest intraday percentage gain since January 16.

This surge is noticeable on the Australian Securities Exchange market today.

The Tel Aviv-based buy-now-pay-later company recently signed a definitive agreement for a $50 million investment from funds guided by Motive Partners.

This agreement is expected to expedite Splitit’s growth and facilitate the implementation of its strategic plan.

Furthermore, the company’s stock, which had a 52.5% decrease this year until the prior close, has now reached the highest level since June 29.

Splitit is an Israel-based payment platform that specializes in dividing purchases into monthly installments without incurring interest or fees.