Fly Now Pay Later, a British fintech company offering consumers globally an alternative and more flexible way to finance travel, has closed a USD75 million debt funding package provided by funds managed by Atalaya Capital Management to support expansion into the United States – the largest travel market in the world.
As part of the funding package, the New-York headquartered financier has also provided an equity investment into the business.
Building on GBP45 million of new investment made in the previous two equity funding rounds, the alternative payments provider launched in 2015 by Jasper Dykes, has now raised a total of USD150 million in debt and equity funding to support global expansion.
Fly Now Pay Later enables customers to spread the cost of a trip over up to 12 monthly instalments by partnering with leading travel merchants or directly to consumers through its Anywhere app.
In the past year, Fly Now Pay Later has entered into significant new commercial partnerships including:, Malaysia Airlines and the airline payments network Universal Air Travel Plan (UATP) (EU merchants only).
