LimePay bags $21m in a pre-IPO round

Buy now, pay later service provider LimePay has reportedly bagged $21m in a pre-IPO funding round.

The equity line was supplied by unnamed high net worth institutional investors, according to a report from CrowdfundInsider.

LimePay is exploring yet another batch of funding in early 2021, it said.

Based in Australia, the FinTech company enables merchants to offer customer the ability to spread the payments for an item over a number of monthly instalments. Customers are able to decide how much they wish to pay each month and the frequency of instalments.

If a payment is overdue, Limepay will handle the follow up to ensure there is no added risk to the merchant.

With the close of the round, the FinTech has raised a total of $30m in funding. It previously secured $6m earlier in the year from investors including Accor Asia Pacific regional chief Michael Issenberg, Telstra group executive Michael Ebeid and others, according to a report from Mozo.

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