#BNPL / Uplift Receives New Credit Line As It Looks To Expand

Menlo Park, California-based Uplift is a buy now, pay later platform for travel that now has raised a total of about $695 million in equity and debt since being founded in 2014.

“Travel already is springing back,” said CEO Brian Barth, adding the company chose a credit line because it is capital efficient and equity funding would have been more expensive. “People are looking toward summer and fall and booking travel.”

… Barth said the company plans to possibly move beyond travel… The company has received requests from merchants in other verticals to integrate their payment platform with their e-commerce infrastructure… “We’ve had a lot of inbound interest from merchants when it comes to that.”

… Uplift also could look at the public markets, Barth said. The growth of the buy now, pay later option in the U.S., as well as the different methods to go public, such as a direct listing or SPAC, make such an exit possible… “We’ll definitely have the number to be public.”