Mumbai and Gurugram-based fintech startup ePayLater has announced that it has secured $10 million in a series B funding round. The round saw participation from Blue Ashva Capital, Responsibility Investments, Pravega Ventures and several other investors.
Speaking on the announcement, Aurko Bhattacharya, Founder of ePayLater, commented, “At ePayLater, we are driven by the vision of making credit accessible to as many retailers and small businesses as possible. In the last two years we have transformed the lives of over 70,000 retailers in India and this round of funding helps us to reach out to many more retailers and help them in improving the efficiency, profitability of their businesses by giving them the best tools that technology can provide.”
Akshay Dua from Responsibility Investments, added, “In India, kirana stores are an important part of the economy, supporting millions, and we saw how indispensable they were during the lockdowns. India cannot grow inclusively without removing the inefficiencies in the system. With its innovative tech platform that allows alternative underwriting, and embedding finance in the process, ePayLater is creating a massive impact by providing financial inclusion and achieving digital transformation in the country.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.