Bangalore-based fintech startup Simpl has raised $40 million as it looks to expand its online buy now, pay later service’s offerings in the world’s second largest market.

LFH Ventures and some existing investors also participated in the round, said the startup, which has raised $83 million to date. The startup uses its own underwriting technology to determine the customers to whom it can offer its services, he said. The startup said it has grown its monthly active merchants and active user base by ten times in the past 18 months. Over 7,000 brands now use Simpl, the startup said. Simpl is like a Khata or a Tab for online commerce.

India’S Simpl Raises $40 Million For Its Buy Now, Pay Later Service

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India’S Simpl Raises $40 Million For Its Buy Now, Pay Later Service

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