by Stephen Chapman
Altrincham-based Payl8r has secured its first institutional funding line, which it hopes will enable it to become a £1bn fintech business within the next 5 years.
The buy now, pay later online platform has received the funding from Conister Bank in the Isle of Man.
“Closing our first funding facility with Conister Bank is fantastic news for both our firm and our customers, who could benefit from seeing Payl8r now available with many more brands they love,” stated Samantha Palmer, Managing Director at Payl8r.
“It’s been a long process, but one that will see Payl8r growing at pace and biting at the heels of our competitors to become the main provider of credit to millennials in the UK.”