Pravega Ventures leads funding in ePayLater

Gurgaon: ePayLater, a fintech startup, has raised Rs 18 crore (around $2.5 million) in a funding round led by Pravega Ventures and joined by others.

ePayLater, operated by Arthashastra Fintech Pvt Ltd, was set up in 2015 by Akshat Saxena, Aurko Bhattacharya, and Uday Somayajula. The company focuses on the food and groceries space.

Its platform offers 14-day interest-free credit to borrowers for purchasing goods and services from partner merchants. ePayLater also has partnerships with companies including Walmart and Metro Cash & Carry.

Investors in the company include ICICI Bank, GMO PG, and Patni Financial Advisors, ePayLater said in a statement.