Limepay closes $6m in funding round

Limepay, which provides buy now pay later technology, has closed its funding round on $6m.

The capital injection was supplied by a series of private investors including Accor Asia Pacific regional chief Michael Issenberg, Telstra group executive Michael Ebeid and others, according to a report from Mozo.

Australia-based Limepay enables merchants to give customers the option to buy products and pay for them at a later date. Its technology lets the user be flexible with their payments, deciding how much and how often they make payments for the items.

If a payment is overdue, the Limepay solution handles the follow up to ensure there is no added risk for merchants.

Last year, fellow buy now pay later solution developer PayBright collected $34m in its growth equity round. The capital was supplied by Canadian Business Growth Fund and iA Financial Group

The company partners with retailers and provides them with a fully integrated point-of-sale instalment payment plan solution to consumers in both e-commerce and in-store environments.

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