ePayLater raises fresh capital in its pre-Series A funding round

Article Crux

• It has now closed its pre-series A funding round which was done by the leading bank ICICI Bank, and also with the participation from the GMO Global Fintech Fund, the investment fund from the internet company in Japan along with the family offices like the Patni and Parekh and some of the foreign investors from the UK.
• ePayLater has now quickly made its mark in India as one of the top digital credit solutions, which even provides the interest-free credit terms for 15 days via its unique ‘Buy Now, Pay Later’ facility.

ePayLater, which is one of the leading innovator in the digital credit market, is now ending 2018 on a high note aspect. It has now closed its pre-series A funding round which was done by the leading bank ICICI Bank, and also with the participation from the GMO Global Fintech Fund, the investment fund from the internet company in Japan along with the family offices like the Patni and Parekh and some of the foreign investors from the UK.

With the help of this capital infusion, ePayLater is better positioned to ramp up its latest technology architecture as well as to strengthen its product. The company before that has also secured $2 Million at the time of angel round of funding.

ePayLater has now quickly made its mark in India as one of the top digital credit solutions, which even provides the interest-free credit terms for 15 days via its unique ‘Buy Now, Pay Later’ facility. It also offers with some of the smoothest possible checkout and payment experience, as users don’t have to pull out their card to complete any of the transaction. Customers can even access the ePayLater at Merchants where the ePayLater is yet integrated directly and also at the merchant via both the offline and online with its award-winning UPI product.

To get to access, this popular facility, the customers need only the download and sign up on the ePayLater application. The platform works on the advanced machine learning techniques to do a real-time credit assessment with the help of data such as the digital footprints, social media information, device information and buying patterns. The user is then even provided with a credit limit, and can also actively use this credit amount to pay for the products and services online.

Talking about the development, the co-founders of ePayLater, said, “ePayLater continues to push the boundaries of innovation to bridge the credit divide in the country. Credit at the point of sale is a need of millions of customers across the country and ePayLater is working towards providing convenient digital solutions for the same. We are indeed delighted that this esteemed group of investors has shown faith in our business model and have invested in our platform so that we can scale faster and fulfill our vision with greater agility.”