BNPL startup ePayLater raises $10 Mn in fresh round

Fintech startup ePayLater has raised $10 million in a new round led by a clutch of investors such as Zurich-based Responsability Investments AG, Blue Ashva Capital, Pravega Ventures and others. 

According to an ET report, the Mumbai-based firm will use the proceeds to expand its presence across more retailers and enhance its product offerings. 

Founded by Aurko Bhattacharya, Uday Somayajula, Akshat Saxena, Prasannaa Muralidharan and Shanmu Thiagaraja, ePayLater is a digital payment solutions provider to retailers across physical and digital sales as well as small businesses to purchase inventory across product categories. Its platform allows small businesses to avail 14-day interest free credit to procure inventory from sellers.

ePayLater specializes as a pay later firm for small businesses and provides zero-cost credit to Small and Medium Enterprises (SMEs) across the country and claims to have disbursed over Rs 1,000 crore in facilitating inventory purchases.

Earlier in Feb 2021, ePayLater had raised Rs 18 crore in a round led by Pravega Ventures and internal investors.