The company has a system called “Affirm Pay in 4,” whereby you can make four interest-free payments every two weeks once you’ve clicked “Buy.” For larger costs, you also have the option to pay monthly. With Affirm, you can create an account and use their app to manage payments across a range of vendors. Thanks to the likes of Klarna, Uplift, PayPal, and Affirm, you now have multiple ways to spread the cost of vacations. The same financing companies you’ve grown to love for letting you pay for your shopping in installments are saving the day in flight booking. Using financing companies to pay for your flights You have two options to fly now and pay in installments: purchasing your flight via a financing company or taking advantage of an airline-specific system. After all, you wouldn’t want to pay for a new couch in one go! Great news: Major airlines have heard consumers and are offering something similar. We’re all used to spreading the cost of major purchases in retail. It will onboard an additional 250 personnel across the three territories in 2022.How does the “book now, pay later” system work? In July, the alternative travel payments provider signed a deal with Cross River Bank to fuel its rapid growth internationally.Ĭurrently, the UK company employs 90 staff in the UK, United States & Latvia. ![]() Last year, Fly Now Pay Later entered into new commercial partnerships, including Malaysia Airlines and the airline payments network Universal Air Travel Plan (UATP). It enables customers to spread the cost of a trip over up to 12 monthly instalments by partnering with travel merchants or directly to consumers through its Anywhere app. The platform can be used to book flights, hotels, package holidays, car hire, and more. The merchant partnerships range from SME travel operators to leading operators like Malaysia Airlines, TravelUp HotelsOne, Air Serbia, and Azores Airlines. H undreds of travel companies use Fly Now Pay Later to offer finance to holidaymakers, who can make repayments in scheduled instalments. “There’s always a temptation to put the brakes on in times of significant headwinds, but with consumer expectations continuing to shift from traditional lending towards alternative convenient digital experiences, we upheld our investment commitments into developing our technology and threw ourselves into bolstering our partnership network in the states, which is really gaining momentum,” Dykes said.ĭykes founded Fly Now Pay Later in 2015 when he was shopping for a holiday and was frustrated by the lack of payment flexibility within the travel sector.Ĭurrently, the company has a presence in all core BNPL markets, including the UK, US, and EU. He added that the US market, which it entered in 2020, has been a “big part” of its “resilience plan” while domestic leisure travel has been more affected in Europe. “To have secured another landmark amount during one of the worst slowdowns in travel history after it ground to a halt is testament to the efforts of the whole team,” said Fly Now Pay Later founder and chief executive Jasper Dykes. To date, the company has raised a total of $150m (£110m) in debt and equity funding. The funding round comes a year and a half after raising £35m funding in Series A round by Revenio Capital. As a part of the funding package, the New York-headquartered financier has also provided an equity investment into the business. The company will use the capital to expand its operation into the US. įollow us on Facebook Follow us on Twitter Follow us on LinkedIn See us on YouTubeįly Now Pay Later, a London-based fintech company that helps consumers spread the cost of their travel over a flexible duration, has secured a $75m (£55.2m) debt funding package from Atalaya Capital Management. Is there an investor you’d like us to interview? If so, email your suggestions to.
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