25 Growing Fintech Buy Now Pay Later (BNPL) Companies & Startups (2024)

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Last Updated on 3 months by Komolafe Bamidele

As new companies enter an industry every year, they push to the top with exciting new ideas and business models that change how the industry works.

Growing Fintech Buy Now Pay Later (BNPL) Companies

When people buy something from a Buy Now Pay Later (BNPL) company, they can pay for it over time in instalments. 

Notably, many BNPL providers don’t charge extra fees or interest rates on top of the initial payment.

In this article, We’ll talk about 25 Buy Now Pay Later (BNPL) startups you should watch in 2024.

 Now is the time to begin.

1. Simpl BNPL Companies & Startups

Simpl BNPL Companies & Startups

Location: Bengaluru, Karnataka, India

Founded: 2015

CEO: Nityanand Sharma

Simpl, a company based in India, is making it simple for people to buy what they want, when they want it, and pay for it in instalments. 

This is the company’s mission. Simpl allows its customers to make purchases immediately and defer payment until a time that is more convenient for them. 

This is particularly useful in countries with complex financial systems that make it difficult for people to obtain credit. 

Simpl enables purchases to be made with a single click and guarantees full transparency to its users and the merchants they work with by providing a full-stack, mobile-first platform for credit-based payments.

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2. Affirm

Affirm

Location: San Francisco, CA, US

Founded: 2012

CEO: Max Levchin

Affirm, a company based in the United States, is another market leader in the BNPL business. 

Affirm’s off-card financing solution does not include any penalties for late payments. 

Affirm announced in February 2021 that it would release its debit card, which would have a feature called Pay in 4. 

In August of 2021, Affirm entered into strategic partnerships with Apple and Amazon to expand their customer base. 

Thanks to this feature, users will have the flexibility to break up purchases of $50 or more into manageable monthly payments. 

3. Hoolah

Hoolah

Location: Singapore, Central Region, Singapore

Founded: 2017

CEO: Stuart Thornton

Hoolah is a BNPL platform established in Singapore that allows customers to pay for their items in three equal interest-free payments.

 Singapore, Malaysia, and Hong Kong customers may now make in-person and online purchases. 

The company collaborates with other businesses in the retail industry, such as Daniel Wellington and Zalora.

4. Bumper BNPL Companies & Startups

Bumper BNPL Companies & Startups

Location: London, United Kingdom

Founded: 2013

CEO: James Jackson

The acquisition of motor vehicles is the only concern of bumper. By providing payment plans with no interest, the organization makes the expenses associated with car repair and maintenance more reasonable. 

Not only is it advertised as being unique, but the CEO of the company, James Jackson, claims that it has been profitable from the very beginning, which is a remarkable feat for a startup.

5. Flex

Flex

Location: New York, New York, United States

Founded: 2019

CEO: Shragie Lichtenstein

When we talk about basic needs, the home comes to mind. 

In light of the current economic uncertainties, many people must make difficult decisions about where to spend their monthly money—for rent, groceries, or other necessities. 

An estimated $5 billion in late fees is paid to landlords annually. Flex attempts to save you from late penalties by covering your rent and providing flexible choices for repayment, free of any additional costs or interest. 

Flex recognizes the difficulties you face and the stress they might bring.

6. Klarna

Klarna

Location: Stockholm, Stockholms Lan, Sweden

Founded: 2005

CEO: Evgenii Kondratev

Because it was the first company of its kind when it was established in 2005, Klarna is primarily regarded as being among the most important companies in the worldwide BNPL industry.

 Klarna presently serves more than 6.5 million shops in the UK and has over 8 million clients there. 

Klarna advertises its BNPL product as being interest- and fee-free. This means the company does not assess the cost of short-term goods. 

That is, items with a payback duration of 12 months or less and it has no hidden fees.

7. Lunar

Lunar

Location: Aarhus, Midtjylland, Denmark

Founded: 2015

CEO: Ken Villum Klausen

The ‘Pay Later’ credit offered by the Nordic challenger bank Lunar enables customers to break up any transaction into instalments or postpone a charge for as long as 30 days. 

It is accessible to all customers as long as they maintain a monthly minimum deposit of 270 euros in their current account. 

In 2021, the mobile-based digital banking application brought a Series D fundraising round totalling 210 million euros.

8. Zilch

Zilch

Location: London, England, United Kingdom

Founded: 2018

CEO: Philip Belamant

Zilch is a company that was established in 2018 and has since developed a mobile app that allows customers to make interest-free, staggered payments for online shopping. 

Zilch, which has its headquarters in Westminster, will enable customers to pay a 25% deposit and divide the remaining balance into six equal payments over six weeks. 

Zilch is licensed by the Financial Conduct Authority, which sets it apart from many other suppliers of BNPL. 

9. Hokodo

Hokodo

Location: London, England, United Kingdom

Founded: 2018

CEO: Louis Carbonnier

Business-to-business (B2B) transactions can use Hokodo as a BNPL program. 

Based in Hackney, the firm was established in 2018. 

Insurance and financial goods may be integrated into B2B marketplaces’ systems with the help of Hokodo’s Application Programming Interfaces (APIs).

10. Clearpay

Clearpay

Location: Manchester, United Kingdom

Founded: 2017

CEO: Carl-Olav Scheible

Another global leader in the buy now pay later services market is the Australian company Clearpay (known as Afterpay in Australia, New Zealand, and the US). 

Customers may shop via the company’s mobile app or, if they prefer, choose to pay using Clearpay while checking out. 

Clearpay does not impose fees on products with payback terms of 12 months or less, similar to most BNPL providers.

11. Flava

Flava

Location: South Otterington, North Yorkshire, United Kingdom

Founded: 2019

CEO: Dan Cluderay

Flava, billed as the first supermarket in the UK to give a “basket” credit of £100, which may be increased to £320 for each purchase after a payment history is established, pays 0% interest. 

With a wide selection of name-brand groceries, door-to-door delivery, and adjustable payment options, 

Flava strives to assist customers experiencing food insecurity in restocking their pantries in the face of unstable economic conditions.

12. Splitit

Splitit

Location: New City, New York, United States

Founded: 2012

CEO: Alon Feit

Splitit is a BNPL platform that links card networks, retailers, and consumers by providing “instalments-as-as-service.” 

Customers may apply for approval using their current credit card, pay for their goods gradually, and avoid paying extra interest on their purchases.

 Splitit has $3 trillion in underwritten credit.

13. Payment Assist

Payment Assist

Location: Melton Mowbray, Leicestershire, United Kingdom

Founded: 2013

CEO: Colin Ellard

Payment Assist, which has been helping customers pay their vehicle payments since its inception in 2013, now offers extended payment plans of three months’ duration. 

For the past two years, the Leicestershire-based newcomer has been included on the Financial Times (FT) 1000 list, which profiles Europe’s fastest-growing firms.

14. Paidy

Paidy

Location: Minato, Japan

Founded: 2008

CEO: Lee Smith

Paidy is a BNPL platform in Japan that enables customers to make online purchases without providing financial information or creating an account.

Customers may complete their purchases by providing their email addresses and phone numbers and receiving a verification code via text message. 

After that payments must, be made by the 10th of the month following the invoice date.

15. Butter

Butter

Location: London, England, United Kingdom

Founded: 2017

CEO: Stefan Hobl

Another BNPL service that caters to both holiday and regular customers is Butter

Butter, a travel booking and e-commerce service founded in 2017 and headquartered in Tower Hamlets, allows users to pay for their purchases for a month. 

Butter also offers holiday discounts for its customers through reward points. 

16. Tymit 

Tymit 

Location: London, England, United Kingdom

Founded: 2017

CEO: Juan Montalvo Bressi

Tymit’s credit card gives you more flexibility in paying for your purchases than the standard four-pay installment plans offered by many BNPL providers. 

You can pay in full in three months with no interest or over a more extended period (up to 36 months) with transparent, up-front pricing. 

To help you develop credit while still providing 0% interest on all transactions, Tymit also provides a credit card called Tymit Booster.

17. Sunbit

Sunbit

Location: Los Angeles, California

Founded: 2016

CEO: Arad Levertov

Sunbit is an industry leader providing convenient and secure point-of-sale financing for customers and companies. 

The company helps consumers pay for items and services over time by facilitating quick installment payment arrangements at purchase. 

Sunbit improves the shopping experience and promotes financial inclusion for clients across sectors by doing away with the constraints of conventional financing. 

18. Capchase

Capchase

Location: New York, United States

Founded: 2020

CEO: Ignacio Moreno Pubul

With the release of Capchase Pay, a business-to-business (B2B) BNPL solution, the fintech firm Capchase has entered the expanding BNPL market. 

Shorter sales cycles, better top-line KPIs, and less labour for the finance department are all goals of this change. 

Capchase Pay is unique among B2B solutions since it removes the hassle often connected with settling on payment terms.

19. Uplift 

Uplift purchase now, pay later

Location: Menlo Park, California, United States

Founded: 2014

CEO: Brian Barth

Uplift is a company based in California whose goal is to assist customers in buying the most important things to them.

 Uplift has partnered with hotels, airlines, and travel agencies throughout the globe in the hopes that their purchase now, pay later arrangements would “be the economic Kickstarter needed to ignite the travel industry.” 

By partnering directly with retailers, Uplift can simplify the trip payment process for its customers by eliminating the need to navigate to Uplift’s exclusive marketplace.

20. ZoodPay

ZoodPay purchase now, pay later

Location: Lausanne, Vaud, Switzerland

Founded: 2018

CEO: Michael Khoi

Customers who make in-store or online purchases can use the ZoodPay payment option to spread out the cost of their acquisitions over up to four installments and 90 days. 

There will be no interest or fees applied during this time frame. 

The company is concentrating its efforts primarily on the buy-now-pay-later sectors in the Middle East and Central Asia, which are mostly unexplored.

21. DivideBuy

DivideBuy

Location: Staffordshire Reef, Victoria, Australia

Founded: 2014

CEO: Max Thowless-Reeves

DivideBuy is a company that creates e-commerce credit-lending software for online stores. 

Monthly repayment choices vary, with the opportunity to spread installments over 12 months. 

DivideBuy was number one in 2020 because of its “revolutionary approach to interest-free lending,” according to Deloitte Fast 50 ranking of the fastest-growing companies.

22. Fly Now Pay Later

Fly Now Pay Later

Location: London, England, United Kingdom

Founded: 2016

CEO: Enrico di San Marzano

The City of London is home to Fly Now Pay Later.

 The rapidly expanding fintech offers vacationers the option to pay for holidays in installments with particular “buy now, pay later” credit services. 

Users may quickly pay for their trips by downloading the company’s app, estimating the total cost, and selecting a convenient payment plan.

23. Capital Float (now axio)

Capital Float (now axio)

Location:  Bangalore, India

Founded: 2013

CEO: Gaurav Hinduja

Capital Float has facilitated financing over 2 million purchases for salaried and self-employed people.

 In addition to its BNPL capabilities, the firm offers loans to people for personal and commercial use. 

You can support other business activities or buy merchandise with these short-term loans. 

The business has assisted in financing approximately 7.5 million purchases so far.

24. Twisto

Twisto pay 10% now and delay payment until later. 

Location:  Prague, Hlavni mesto Praha, Czech Republic

Founded: 2013

CEO: Michal Smida

With a unique ‘twist’ on BNPL, European firm Twisto will extend a credit line for your monthly payments after you sign up.

 Each month, you will be billed up to this amount for everything you buy online or in a shop. 

Twisto allows you to pay the whole amount due upon receipt of an invoice, or you can pay 10% now and delay payment until later. 

Twisto’s flexible monthly plans include tools for budgeting, tracking spending, and protecting families on vacation.

25. Zip

Zip

Location:  Sydney, New South Wales, Australia

Founded: 2013

CEO: Larry Diamond

Zip (formerly known as QuadPay), a pioneer in BNPL, enables purchases at various stores and has exclusive connections with some of the biggest names in retail. 

Zip is accessible on several online and offline platforms and in a wide range of retail locations, 

with no interest charges applied to purchases in various categories, such as education, pets, shoes, and travel.

Wrapping Up Fintech BNPL Startups 2024

One big thing that these companies are doing now is giving interest-free payment plans with no fees.

 Customers have become used to this important feature and will likely not like companies charging extra to use a BNPL service.

To sum up, the BNPL business plan will likely stay strong and grow because these companies offer flexible payment options so customers can buy big things without worrying about paying the total amount all at once.

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