The Venture Codex

Led · Series A · May 2021

Fly Now Pay Later provides a Buy Now Pay Later (BNPL) platform that lets consumers spread the cost of flights, hotels and other travel expenses over time while merchants receive payment upfront. The company integrates with airlines, online travel agencies and other travel merchants, and has struck partnerships with KAYAK, Malaysia Airlines, Universal Air Travel Plan (UATP) for EU merchants, and the BNPL network ChargeAfter. Management is doubling down on expansion in the United States, citing forecasts that domestic U.S. travel spend will reach $968 billion by 2024 and that BNPL will dominate embedded finance by 2026. Despite pandemic-induced headwinds, the firm continued investing in its technology and partnership network to capture recovering travel demand. Financially, Fly Now Pay Later has secured $172.1 million in debt and equity financing since 2015, supporting its growth and product development. The latest funding round strengthens its balance sheet for further U.S. market penetration and continued product enhancements. No revenue, user or profitability figures were disclosed in the article.