Fly Now Pay Later, a travel startup based in London, has raised $180 million in funding. Launched in 2015, Fly Now Pay Later seeks to transform the travel industry by leveraging the growing popularity of Buy Now Pay Later, which enables customers to pay for purchases over time, often interest-free.
The London-based startup stated that while it was “making improvements” to its business, it decided to halt borrowing and onboarding new consumers. Fly Now Pay Later, a UK-based company, allows customers to spread out the expense of booking a vacation or trip over an amount of up to 12 months.
A notice on its website says it has now stopped taking on new customers and further lending.
The notice says: “We are currently making improvements to our business to better serve our customers. “As such, we are not currently taking on new customers, or engaging in further lending, while we put these improvements in place. “Rest assured, existing accounts and services will continue as usual and our customer service team remains at your disposal to answer any queries or concerns you might have during this period.”
The startup secured $75 million in debt financing in January 2022 from US investment company Atalaya Capital Management, which it set up for US growth. It completed a £45 million Series A expenditure round in 2021, with asset managers Taurus Wealth Advisor and Revenio Capital driving the charge.
About Fly Now Pay Later
Jasper Dykes established Fly Now Pay Later, an innovative player in the travel technology space that aims at improving sales for international travel agencies by giving customers a flexible payment option at their point of sale.
Rockstar travel companies like Lastminute.com, Crystal Travel, and Travelpack use us every single day as Europe’s only purchase now pay later solution only for the travel industry that allows customers to pay for their trip in up to 12 monthly installments.