An online buy now pay later firm aimed at millennials is eyeing a £24m revenue boost after signing a new partnership.
Payl8r, which is based in Manchester, has agreed the deal with Faces Consent, an app used by the aesthetics industry to create client consent forms and purchase pharmaceutical products.
Faces Consent was launched two and a half years ago by entrepreneurs Ben O’Brien and Ashley Simpson Davies and has over 45,000 registered users.
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Payl8r said the partnership is expected to bring in £24m in revenue in the first nine to 12 months.
Samantha Fogerty, managing director at Payl8r, said: "We’ve been working hard over the past two years to establish ourselves within the beauty and aesthetics industry.
"This new partnership with Faces Consent will grow our market share and bring in an estimated £24m in revenue within the first year alone.
"The app processes around 3,000 transactions every day and we’re delighted to offer their 45,000 users flexible finance to buy now and pay later."
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Ben O’Brien, co-founder and managing director of Faces Consent, added: "The success of our app has been down to listening to what our users want and delivering it to them in an effortless way.
"Over the past year we’ve had a lot of questions from users asking where they can secure flexible finance to spread their payments.
"We spent a lot of time looking into building our own finance technology, but it soon became apparent it would be easier to partner with an existing buy now pay later brand. Payl8r was our ideal partner as its proprietary tech is cutting edge and we like the fact that it’s one of the only BNPL firms that is regulated.
"The team has made this whole process effortless for us and we’re excited to see where this partnership will take us."