FlyNow, PayLater: Fly0 seeks to transform travel finance for the underserved in Bangladesh

In a country where financial constraints often tether aspirations, a new fintech startup has emerged to offer a lifeline.

Fly0, founded by serial entrepreneur Mehedi Hasan with his co-founders Shah Arafat Hossain and Dr Rahman, is reimagining travel financing in Bangladesh, particularly for those excluded from traditional banking systems.

A social enterprise with a mission

Fly0 is a social enterprise driven by the goal of dismantling financial barriers that prevent millions of Bangladeshis from accessing affordable and ethical travel solutions. From migrant workers and Hajj pilgrims to individuals seeking medical treatment abroad, Fly0 aims to empower communities to achieve life-changing goals.

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“With 85 million non-credit card holders in Bangladesh, traditional ‘buy now, pay later’ (BNPL) services simply don’t work. I wanted to create a system that uses alternative financial data to extend credit responsibly and ethically,” explains Hasan, whose previous startup, MyCash Online, was acquired by Singapore-based neobank IN Financial Technology (INFT).

Fly0 was conceived to bridge the gap between financial limitations and essential travel needs. The platform, launching next month, promises a transformative approach to travel financing.

Shariah-compliant and transparent financing

Fly0 is built on Islamic finance principles, ensuring its services are ethical, inclusive, and free of interest (riba). Instead of charging interest, the platform earns revenue through pre-arranged commissions with travel providers, such as airline ticket wholesalers and hotels.

Customers can finance essential travel—such as Umrah pilgrimages, medical trips, and migrant work journeys—through fixed monthly instalments with no hidden fees or penalties.

“Our model prioritises affordability, transparency, and Shariah compliance,” says co-founder and country head Arafat Hossain. “We provide interest-free financing for essential travel needs, enabling customers to focus on their journeys without the financial burden of upfront costs.”

A cornerstone of Fly0’s operations is its proprietary AI-powered credit engine, which evaluates alternative financial data such as mobile financial service (MFS) transactions, utility bill payments, and remittance receipts. This approach enables it to assess creditworthiness without relying on traditional credit scores, empowering millions of Bangladeshis without access to credit cards.

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By using predictive modelling and dynamically adapting to ongoing data collection, the system reduces human bias in credit assessments. The platform also ensures transparency by clearly communicating the criteria used for credit evaluations, helping customers build a digital financial footprint.

Meeting essential travel needs

Fly0 focuses on financing essential travel categories:

• Migrant workers: Addressing high upfront travel costs with its ‘FlyNow, PayLater’ model.
• Hajj and Umrah pilgrimages: Offering interest-free plans to help pilgrims fulfil their spiritual obligations.
• Medical travel: Facilitating fast credit approvals for urgent trips and alleviating financial strain through flexible payment plans.

Fly0 has partnered with over 100 airlines and 6,000 hotels to provide users with extensive travel options, easy instalment plans, and special discounts. The company also plans to expand its services to include group travel packages and medical assistance in the near future.

Navigating challenges in a complex market

Implementing AI-driven financial solutions in Bangladesh hasn’t been without hurdles. Issues such as low digital literacy, limited standardisation of mobile financial data, and regulatory challenges required innovative solutions. Fly0 has overcome these obstacles through careful planning, strategic partnerships, and a commitment to ethical practices.

“By focusing on transparency, ethical lending, and Shariah compliance, we’ve earned the trust of our customers and partners,” says Arafat Hossain.

A vision for regional expansion

Looking ahead, Fly0 plans to expand to Pakistan and Malaysia in 2025, with further ambitions to enter the Middle East. The company aims to facilitate cross-border payments for families and essential travel while promoting financial inclusion on a larger scale.

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Its broader mission is clear: to drive social impact by empowering marginalised communities, fostering financial mobility, and providing opportunities for individuals to realise their potential.

Fly0’s journey is a testament to how innovation, ethics, and a deep understanding of local needs can converge to create meaningful change. By enabling ethical and affordable travel financing, Fly0 is not just transforming how Bangladeshis travel—it’s empowering them to explore new horizons and achieve their dreams.

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