Credit provider to SMEs ePayLater raises $10-M from Responsability, Blue Ashva, others

Mumbai-based fintech startup ePayLater has raised USD 10 million from Zurich-based Responsability Investments AG, Blue Ashva Capital, Pravega Ventures and others. The startup, which specializes as a pay later firm for small businesses, counts Pravega Ventures, ICICI Bank and Japan's GMO Global Fintech Fund as existing backers. The firm plans to use the fresh capital to expand its reach across more retailers and enhance its suite of products. It provides zero-cost credit to small and medium enterprises (SMEs) across the country and has disbursed over INR 1,000 crore in facilitating inventory purchases.