Fintech startup ePayLater Raises $2.5 million from Pravega Ventures

• In January 2019, ePayLater had raised an undisclosed amount in a seed funding round.
• ICICI Bank and GMO Global Payment Fund are the investors in the startup.
• To date, The startup has raised over $6 million in funding.

Mumbai-based fintech startup ePayLater has raised $2.5 million (Rs 18 crore) in a fresh funding round led by New Delhi-based private venture capital firm Pravega Ventures. The round also saw participation from other investors.

Besides ePayLater, Pravega Ventures has also invested in several fintech startups such as MintOak, SafeGold, MyShubhLife, Property Share, and Fyle.

Prior to this round, ePayLater had raised an undisclosed amount in seed funding from ICICI Bank and GMO Venture Partners Global Payment Fund. Following the current funding round, The startup has raised over $6 million in funding, according to CrunchBase.

Founded in December 2015 by Akshat Saxena, Aurko Bhattacharya, Shanmu Thiagaraja, Prasannaa Muralidharan, and Uday Somayajula, ePayLater (Arthashastra Fintech Pvt. Ltd.) works on the 'Buy Now Pay Later' model that allows its customers to make hassle-free purchases on online shopping portals.

ePayLater has partnered with IRCTC, PVR Cinemas, Industrybuying, Tolexo, Crowit, Ixigo, Amazon, Goodbox, DocsApp, Travel Yaari, Telebrands, Ticketees, Croma, evoucherindia, etravelsmart, mojopizza, ahataxis, funky tradition, travel spice, sportsuncle, icanstay, and ticketnew, it claimed.

In July 2019, It had partnered with EasyMyTrip to provide credit services for online travel bookings.

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