Spotting the Silent Credit Crisis
In a country bustling with opportunities, something was not right. In 2015, a large part of the population did not have access to credit; for example, just 3% of Indians had access to credit cards. Beneath the booming digital economy, millions of small business owners remained financially excluded – it is said that the gap in the supply and demand of credit is $500 Bn or Rs 40 lakh Crores
This was the insight that sparked EPayLater. While the fintech wave focused on consumer apps and cashback rewards, Aurko Bhattacharya and his co-founders chose a tougher path—tackling the invisible credit gap that haunted India’s MSME sector.
“We were stunned by the reality,” Aurko reflects. “In Western economies, nearly everyone had access to credit. In India, even business owners couldn’t get a formal loan.”
“There are 63 million small businesses in the country. That’s 63 million dreams. Each one started by someone who just wanted to build something meaningful — maybe grow a family business, maybe create wealth, maybe just make life a little better. But somewhere between the dream and reality, things often fall apart – 80% of these dreams shut down because of a lack of access to capital. At ePayLater, we can’t fix every problem — but we’ve made it our mission to make sure that lack of access to capital isn’t the reason these dreams die,” says Aurko.
Being First Isn’t Glamorous—It’s Gritty
Launching India’s first BNPL (Buy Now, Pay Later) platform sounds exciting—until you realize no one understands what BNPL is. Aurko and his team had to educate not only customers and partners but also navigate a regulatory system that had no clear framework for what they were building.
“We weren’t even sure if this would work,” Aurko admits candidly. “So our first move wasn’t a big pitch—it was getting a legal opinion. We wanted to be absolutely compliant even before the product was built.”
What followed was months of groundwork—designing a custom tech stack, integrating alternate data sources, and obsessively refining the underwriting engine. Every decision was weighed with a single question: How do we do right by the customer?
Zero-Cost Credit: The Game-Changer
At the heart of EPayLater’s model was a revolutionary promise—interest-free working capital for MSMEs. A shopkeeper could access credit instantly, without paying anything extra, and buy more from suppliers when it mattered most.
The result? A staggering 2.7x increase in purchases from MSMEs for ePayLater’s anchor partners. With credit no longer a bottleneck, small retailers could finally grow on their own terms.
“We built trust by removing cost from the equation,” Aurko explains. “Credit wasn’t just a product—it became a catalyst.”
Scaling with Empathy, Not Just Ambition
But solving one problem only revealed others. As demand grew, MSMEs began asking for broader support—credit against invoices, longer-term loans, and support during low-revenue cycles.
ePayLater responded with a suite of products designed to serve the nuanced cash flow realities of small businesses. Today, the ePayLater product suite contains:
- Purchase Finance for instant liquidity
- Equated Daily Installments (EDI) to ease repayment stress
- Revenue-Based Financing
These weren’t just financial products—they were lifelines, created by a team that listened more than they sold.
Building for Everyone—Digitally and Beyond
For Aurko, technology is the engine—but not the destination. While ePayLater’s platforms offer ERP integrations, mobile apps, and dashboards for NBFC and Anchor partners, the real magic lies in how it adapts to meet customers where they are.
“Not every MSME has software. Some still rely on WhatsApp and handwritten invoices for their sales,” he notes. “So we built tools for every type of user—online or offline, tech-savvy or traditional.”
Even NBFC partners benefit from ePayLater’s cutting-edge partner dashboard, which allows real-time approvals, credit limit management, and customer engagement in one place.
A Founder’s Code: Compliance, Clarity, and Care
Aurko’s leadership style is refreshingly grounded. From the very beginning, transparency and compliance have guided every step.
“We never wanted to ‘work around’ the system,” he says. “We believed in the spirit of regulation—because we’re handling people’s money and trust.”
At EPayLater, customer data is treated with utmost sanctity. Every product is reviewed not just for viability, but for fairness. And even at scale, the team remains committed to value creation first, revenue second.
The Mission: Empower One, Empower Millions
Looking ahead, Aurko envisions EPayLater as more than a credit provider. It’s a trust bridge—between underserved entrepreneurs and the formal financial system.
As India’s embedded finance ecosystem matures, EPayLater is already enabling real-time credit access at kirana stores, B2B platforms, and even through partners like Google Pay, Pine Labs etc.
But beyond the numbers and partnerships, the real impact lies in stories: a retail store doubling its inventory, a small trader weathering a festival season, a local entrepreneur launching with confidence.
“Credit should never be a privilege,” Aurko says with quiet conviction. “It should be a right for anyone who dares to build.”
-By Muskan Dengra
