Revenio invests in €39.2m round for Fly Now Pay Later

The round consists of equity and debt funding, with Shawbrook Bank and BCI Finance also participating.

The investment comes as the travel and tourism sector looks likely to be affected by the coronavirus crisis for far longer than the majority of other sectors.

The funding will be used to develop the company's payment technology and launch its app. Fly Now Pay Later is also expected to expand its footprint in Europe, specifically in Germany and France in 2020.

Previous funding
The company received $5m in equity in 2015 from undisclosed investors. In then took out $25m in debt financing in 2016 and $5m in debt financing in 2018.

Company
Established in 2015, the startup enables users to have the option of paying for travel plans in instalments of up to a year, as opposed to paying upfront for travel. It employs 70 people and is based in London.

People
Fly Now Pay Later – Jasper Dykes (CEO).

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• Topics
• Expansion
• UK / Ireland
• Financials
• Venture
• United Kingdom