Startup financial services vendor Uplift has raised a further $123 million to expand its loans services to travel brands, to allow US consumers can pay for trips in monthly instalments.
Booking Holdings’ Kayak is now offering instalment payments for flights booked on its site with select partners, taking payment direct from consumers when facilitating bookings.
Uplift is looking now to wider offerings such as cruises, hotels, tours, speciality destinations and other categories, with a range of clients across these sectors.
This is a relatively new financial offering in the States, with main competitors being San Francisco-based online lender Affirm, working with travel firms including Expedia and CheapAir, and Airfordable, based in Chicago. Uplift has so far served 250,000 travelers with loans, and claims it will lend about $1 billion to travellers in 2019.