Buy Now, Pay Later travel leader Uplift secures $68 mn in Credit Financing

By Pavithra R

Uplift, an enterprise Buy Now, Pay Later (BNPL) solution solving the complex requirements of the world’s most demanding enterprise Travel brands has announced securing a new $68 mn credit line from Atalaya Capital Management.

Uplift is experiencing rapid growth to meet consumer demand. To date, the FinTech has raised a total of approximately $695 mn since its founding in 2014. The company is planning to use the finance to help the firm extend financing to its customers who want to book now and pay overtime for travel purchases in the New Year. Its enterprise BNPL solution is available for purchases from the world’s leading travel brands, including United Airlines, Southwest Vacations, Carnival Cruise Line,and many more.

“This additional financing from Atalaya solidifies Uplift’s standing as the market leader in Buy Now, Pay Later for travel. The injection of credit positions us to efficiently fund the rising transaction volume we anticipate as travel demand rebounds in 2021. It also frees up equity for us to launch important strategic growth initiatives next year,” said Uplift’s CEO Brian Barth.

“Buy Now, Pay Later has become another mainstream way to responsibly pay for a variety of consumer purchases. Uplift has a strong market position with an enterprise solution that works for merchants while making it easier for consumers to purchase leisure travel,” said James Intermont, a Principal at Atalaya Capital Management.

Uplift is a Buy Now, Pay Later solution focused exclusively on travel and helps consumers take control of their budget and experience the travel they deserve. The firm has partnerships with various travel brands, including airlines, cruise lines, and hospitality companies, to help those companies’ customers book travel early and pay over time.