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FLY NOW PAY LATER SECURES USD $75M FROM ATALAYA CAPITAL management TO continue ITS fast international ROLL OUT

LONDON, Jan. eleven, 2022 /PRNewswire/ -- Fly Now Pay Later (www.flynowpaylater.com/us/), a worldwide fintech company providing patrons an choice and more bendy technique to finance trip, has closed a USD $75m debt funding package provided by way of dollars managed with the aid of Atalaya Capital administration to assist expansion into the USA - the greatest shuttle market on the earth.

As part of the funding kit, the brand new-York headquartered financier has additionally supplied an fairness investment into the company. 

constructing on USD $60M (GBP £45M) of latest funding made within the previous two equity funding rounds, the alternative payments issuer launched in 2015 through Jasper Dykes (32), has now raised a total of USD $150 million in debt and equity funding to assist international enlargement.

The milestone has been accomplished in below six years of buying and selling, right through which period Fly Now Pay Later correctly navigated 18 months of remarkable travel sector disruption.

With on-line US business aviation returning to pre-pandemic ranges, Fly Now Pay Later will use the brand new funding to extra build out and scale its operational footprint in the world's biggest commute market.

Fly Now Pay Later is a leading BNPL player within the largely unaddressed commute sector. With a presence in all core BNPL markets (UK, US and european). Fly Now Pay Later is the best world participant fully focused on the abruptly convalescing commute sector.

The alternative lender allows consumers to spread the charge of a trip over as much as 12 monthly instalments through partnering with main commute retailers or directly to patrons through its anywhere app

"To have secured another landmark volume right through one of the most worst sluggish downs in shuttle history after it ground to a halt is testament to the efforts of the whole crew," pointed out Fly Now Pay Later founder and chief government Jasper Dykes.

"the U.S., which we entered in 2020, purposely shaped a large part of our resilience plan as domestic enjoyment commute has been less affected than in Europe. and may proceed to be a key center of attention as we enter 2022.

"there's all the time a temptation to place the brakes on in instances of large headwinds, but with client expectations continuing to shift from average lending towards option handy digital experiences, we upheld our funding commitments into establishing our expertise and threw ourselves into bolstering our partnership community in the states, which is truly gaining momentum."

in the past yr, Fly Now Pay Later has entered into giant new industrial partnerships together with:, Malaysia airways and the airline payments community typical Air go back and forth Plan (UATP) (european retailers only).

In July, the alternative shuttle payments company signed a take care of cross River bank, the brand new Jersey-based economic services corporation and Banking-as-a-provider ("BaaS") company, to additional gas its speedy boom internationally.

This changed into reinforced by means of a strategic UK and US hyperlink-up with ChargeAfter, a world network of BNPL and factor-of-sale financing for merchants, making Fly Now Pay Later the first shuttle-centric installment payment choice attainable on the platform.

"or not it's a very wonderful time for the company. The category is experiencing enormous growth and with that we additionally welcome the FCA's recent determination to adjust the field in the UK to facilitate its carrying on with maturity," persevered Mr Dykes.

"There are tens of hundreds of individuals who've families around the globe who want a frictionless method to finance their flights.

"via casting off economic boundaries, we hope to reconnect individuals with their friends and households no rely where they're worldwide.

"because launch, we now have been on a mission to make shuttle extra attainable and cost effective for more people, via proposing charge flexibility on the click of a button.

"Our proprietary platform has been designed to make instantaneous credit selections - featuring extremely tailored and digestible fee alternatives to consumers historically underserved with the aid of current credit associations."

the use of BNPL products pretty much quadrupled in 2020, to £2.7 billion in transactions within the UK, with five million individuals using these items because the beginning of the coronavirus pandemic.

Analysts forecast that by way of 2026, spending via BNPL services is predicted to hit pretty much $51bn (£37bn) within the UK on my own.

BNPL accounted for 2.1% — or about $ninety seven billion — of all world e-commerce transactions in 2020, in keeping with Worldpay.

a whole lot of go back and forth groups use Fly Now Pay Later to offer finance (from as little as 0% APR) to holidaymakers, who could make repayments in good value scheduled installments. Its merchant partnerships latitude from SME shuttle operators to leading operators like Malaysia airways, TravelUp HotelsOne, Air Serbia and Azores airways.

The alternative travel funds firm has capitalized available on the market probability to consolidate its leading position in the UK and expand its service provider base, as commute manufacturers are seeking to up their e-commerce and digital payments game to power sales publish market healing.

given that it launched in 2015, Fly Now Pay Later has focused on constructing a greatest-in-type product round its viewers and their buying habits; seeing demand and consumer loyalty solidify in the technique.

The choice shuttle charge company presently employs 90 team of workers within the UK, united states & Latvia and is aiming to guide every market over the subsequent year according to customer demand and as travel restrictions ease. it'll onboard a further 250 + personnel across the three territories in 2022.

The enterprise can also be used to book flights, motels, package vacation trips, motor vehicle appoint and greater and presents frictionless price options to assist groups and the conclusion consumer.

"Fly Now Pay Later has handled the past 24 months admirably. or not it's a powerful company in a high increase mode, it's smartly located to seize the buoyant category demand.

"We're proud to assist the company and its skilled management group as they proceed to make lifestyles more straightforward for travelers and merchants global with its tech-enabled monetary options." brought James Intermont, major at Atalaya Capital management

The service is short and easy to use, and a credit score assess is performed straight. commute providers who have an interest in signing up to Fly Now Pay Later should seek advice from https://www.flynowpaylater.com/us/for-business/.

travelers attempting to find a brief and simple approach to ebook a trip obtain the app here

Sources:https://www.prnewswire.com/information-releases/purchase-now-pay-later-5-takeaways-from-the-uk-market-301404172.htmlhttps://worldpay.globalpaymentsreport.com/en/down load/ 

About Fly Now Pay Later (http://www.flynowpaylater.com)

Fly Now Pay Later became established in 2015 through Jasper Dykes. Dykes got here up with the theory when he turned into shopping for a vacation and changed into pissed off by the inability of charge flexibility inside the trip sector.

"When i used to be about 20, a chum rang me and spoke of he found an exquisite break on Expedia, but it surely become just about £2000. As with most online travel providers, you customarily have to pay the full balance at the element of check out which become really inconvenient on the time. I went seeking choice payment alternate options for commute, and realized it failed to exist.  This changed into the mild bulb moment behind Fly Now Pay Later" he recollects.

It wasn't until a long time later that, aged 24, Jasper relocated to London from Dorset to build out his marketing strategy. After meeting co-founder and financier Stuart Jeffrey, they constructed out a small group, closed a seed funding round and shaped Fly Now Pay Later. From small beginnings, Jasper now leads a group of ninety team individuals throughout the uk, Europe and US.

About Atalaya Capital administration

Atalaya Capital administration is a privately held, SEC-registered, alternative investment advisory enterprise. Atalaya basically makes a speciality of making deepest credit and special opportunities investments in three most important asset courses – specialty finance, true property, and company. founded in 2006, Atalaya is headquartered in manhattan city and has approximately $6 billion in property under administration. For more advice talk over with www.atalayacap.com.

CONTACT: [email protected]

supply Fly Now Pay Later


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