Fly Now Pay Later raises $13.8m for its planned US expansion
the credit intermediary that works with travel companies to help customers spread the cost of their travel, has raised $13.8m in it’s latest funding round, and has announced plans to expand to the US.
The alternative travel payments provider currently works with more than 250 travel companies globally, including Emirates, Expedia and Booking.com, and enables customers to have flexible payment options on travel purchases. Users can spread the cost over periods of one to 12 months, and interest can be as low as 0% APR.
According to information on it’s website, Fly Now Pay Later, which currently employs around 70 staff in the UK, facilitates loans of up to $4,000. The fintech charges a one off transaction fee of 14.99%. Payments and agreements can also be monitored and arranged through the company’s direct-to-consumer Anywhere app.
Fintech US expansion
According to reports, Fly Now Pay Later has already been beta-testing its technology stateside since autumn 2020 and will use its new investment, co-led by asset management firms Revenio Capital and Taurus Wealth Advisors, to roll out its services there. Expanding its UK and German presence is also a priority.
Speaking about Fly Now Pay Later plans to expand to the US market, and how the pandemic has affected business, founder and chief executive explained. “The last 12 months have been an unprecedented period for the commercial travel sector with the worst slow down ever recorded in history. And while we’re not out of the woods, there are glimmers of hope.”
Dykes believes flexible payment options will help boost bookings as the travel industry begins to reopen, with a full launch into the US market on the horizon.
“There are tens of thousands of people who have families around the world who need a frictionless way to finance their flights,” he said.
“By removing financial boundaries, we hope to open the post-covid-19 world for travellers and reconnect people with their friends and families around the globe.”
, director at one of the company’s backers Revenio Capital, said: “We’re proud to support the company and its experienced management team as they continue to make life easier for travellers and merchants worldwide with their innovative and tech-enabled financial solutions.”
The Ultimate FinTech & InsurTech LIVE Event
From October 12th-14th, 2021, BizClik’s FinTech & InsurTech live event will bring together influential executives from around the world. Live from London, this three-day event will be an excellent way to finish the year strong, gaining the confidence your company needs to move forward into the future.
With keynote addresses from global leaders, dynamic roundtable discussions, and extensive networking opportunities, FinTech & InsurTech live will expand your network, deliver insight, and enhance your organisation’s reach. Events include a forum on financial services, discussions centred on racial equality and women in fintech, and APAC, EMEA, and US-focused sessions that capture insights from around the world.
The event will include:
- Keynote addresses from respected industry leaders
- Dynamic live roundtables (inc. Q&A)
- Fireside discussions
- Inspirational Speakers & Presentations
- Extensive networking opportunities
Scope Out the Agenda
This week, we’ll share our weekend schedule of events, filled with essential industry topics and keynotes replete with knowledge and insight. Here’s a rundown of the three-day schedule:
Kicking off at 10 AM with a welcome message from our CEO Glen White, the first day of FinTech and InsurTech Live won’t pull any punches. We discuss racial equality, inventive financial services, and cloud migration—and that’s just the morning lineup.
Later on, we’ll cover supplier diversity, AI digital transformation, and fintech sustainability, in addition to cloud and digital transformation in global insurance. Don’t worry—we have a networking lunch in-between events! Finally, we’ll close out the day with online banking, women in fintech, and a recap of Day 1.
First we’ll hear from Scott Birch, our expert BizClik Media Editorial Director and facilitator, live from the Fintech Leaders Stage. We then jump into the future of digital payments, unicorns, and digital insurance brokers. Interested in learning more about digital underwriting and digital payment solutions? You’ve come to the right place.
In the afternoon, we’ll touch on CX in insurance, host a forum on financial services, and discuss what the world might look like as a cashless society, plus the future of challenger and neo banks. Wrapping up, we’ll talk tech and AI in insurance, PayTech, and hear from a surprise inspirational speaker. But we’re not done yet.
As is only fitting, BizClik’s CEO, Glen White, will introduce our APAC sessions, highlighting the critical role that Asia will play in the future of fintech and insurance. Following his remarks, we’ll open up the floor for a chat about digital banking, discuss technology in APAC, and hear from Dipu KV in an iconic keynote address.
After a series of thought leaders and networking sessions, we’ll head into an EMEA-focused session, which includes an EMEA technology panel, a CDO keynote, and a Europe enterprise presentation. In fact, this day’s events span the globe. Next up is a USA regional keynote, followed by a US CIO presentation and talks about enterprise.
A final end-of-event farewell will close out the weekend, wrapping up a successful FinTech and InsurTech global event. Can’t miss it. We look forward to seeing you there!