Startup Fintech Business Fly Now Pay Later Adds $14 Million to Series A

By James White Tuesday, May 11, 2021

With ecommerce rapidly expanding, the bustling industry has paved the way for entrepreneurs looking to break into the fintech and payment processing business. Fintech startup company Klarna has seen significant growth for its buy now pay later (BNPL) business, allowing consumers to purchase items online and pay for them over time. Building off of this concept, startup fintech company Fly Now Pay Later lets people travel and pay for their holiday trip through an app in monthly installments. The startup company recently added roughly $14 million in Series A funding for its fintech business and app platform.

Passenger plane in flight.

“After more than a year of being in our homes, people are itching to dust off their suitcases globally,” said Jasper Dykes, CEO and founder of the fintech startup company. “The recovery of travel is likely to be gradual, but when it happens, we hope that by giving people the freedom to book a trip and pay at a pace that works for them, will help spur reservations.”

The latest funding for Fly Now Pay Later and its app was co-led by investors Revenio Capital and Taurus Wealth Advisors. Support for the fintech startup business comes in the wake of an earlier Series A round in May 2020, where the company secured over $42 million from investors. Funding from the latest round of investor support for Fly Now Pay Later will help the company scale its operations in the US travel market.

Enjoy a Vacation, Then Pay for the Flight

Founded by Dykes in 2015, Fly Now Pay Later has built an app platform that allows travelers and vacationers to quickly book a trip and worry about the bill later.

Users simply book a flight through the Fly Now Pay Later app, and the fintech startup business pays the bill for them. After enjoying the trip, users pay the startup company back in installments. Using the app, users can specify the payment plan that works best for them, whether that means paying the trip back with one lump sum a month after returning or breaking down the price over the next 12 months.

Fly Now Pay Later is already partnering with travel companies such as, Kayak, Expedia, and others to offer customers flexible payment plans through its app.

“Fly Now Pay Later has proven itself by successfully growing during one of the most turbulent events in the history of the travel sector,” said Kitarack Chapman, the director at Revenio Capital. “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.”

Soaring Into the Recovering Travel Sector

Though last year proved to be a challenging period for the travel industry, market research expects the sector to rebound in the near future. According to a report from Allied Market Research, the global leisure travel industry is expected to exceed $1.7 trillion by 2027 and register a CAGR of 22.6%. The startup fintech business aims to ride the wave of growth in the industry.

About the Author

Headshot for author James White

James White is a Michigan State University graduate with a B.S. in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.

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