Australian investors bought the rumour today, with shares in buy-now-pay-later company Zip jumping 13.7% on media reports that Klarna, the 1000lb Swedish gorilla in the BNPL space, had taken a holding in the Aussie fintech. Zip (ASX:Z1P) shares closed Thursday trade at $8.78, having startup the day at $7.70, giving the company a market capitalisation… Read more »
The stellar rise on buy-now-pay-later fintechs on the ASX appears to have halted, with market leaders such as Afterpay falling briefly below $100 a share in trading today amid a three-month low for BNPL stocks. Afterpay (ASX: APT) ended the day up slightly at $101.50, but remains a long way off its mid-February high of… Read more »
Australia’s biggest bank will take on fintech powerhouses such as Afterpay, Zip and Sezzle by launching its own Buy Now, Pay Later (BNPL) product within months. The Commonwealth Bank of Australia (CBA) will offer its own BNPL product to CBA customers from mid-2021 to use anywhere Mastercard payments are accepted. The move will be CBA’s… Read more »
Commonwealth Bank-backed Swedish bank and payments fintech Klarna has raised US$1 billion (A$1.3bn) in a fresh equity round from new and existing investors that gives values the business at an astonishing US$31 billion (A$40bn). That new valuation is a 200% jump on just six months ago, and a rise of nearly 500% on the US$5.5bn… Read more »
Afterpay (ASX:APT) shares are being smashed today after returning to trade today in a bad end to the month for tech stocks. The buy-now-pay-later fintech called a trading halt to its shares yesterday ahead of releasing its half-yearly results, which included a $79 million loss, despite analyst expectations of a maiden half-year profit, and plans… Read more »
Happy Thursday all. A big shout out to our Victorian readers, who suddenly find themselves masking up again indoors. 40-15. Today’s column might take 120 seconds, but there’s lots of juicy stuff to talk about. 1. BrexNPL? There could be a day of reckoning coming for the wild west of BNPLs, in the UK… Read more »
● Q2 quarterly revenue of $102m (up 88% YoY). ● BNPL December revenue $40.2m (up 94% YoY). ● Transaction volume of $1.6b (up 103% YoY). ● December transaction volume of $628.4m (up 104% YoY). Shares in buy-now-pay-later fintech Zip Co Ltd (ASX: Z1P) have jumped more than 12% in early trade on Thursday after the… Read more »
Buy-now-pay-later fintech Zip has nearly doubled the amount it raised in its Share Purchase Plan (SPP), issuing more than 10 million new shares worth $56,739,524. Zip (ASX:Z1P) set out to raise $30 million through the SPP, but also accepted an extra $26,739,524.95 in oversubscriptions from eligible shareholders, who could subscribe for up to $30,000 worth… Read more »
The buy now, pay later sector has been given a stay of execution in its fight to stop merchants passing on the costs of the service to consumers with an ongoing review by the Reserve Bank of Australia (RBA) concluding the sector has not yet reached a tipping point in favour of introducing the change.… Read more »
Fintech Limepay has tapped its investors for another $21 million, just seven months after raising $6 million. The company, which offers retailers a white label buy-now-pay-later solution, launched the pre-IPO raise in October shortly after signing on games retailer EB Games as a client. The platform is built on the technology of US payments fintech… Read more »
The former Flexigroup, now rebranded as Humm, the name of its BNPL product, is launching a US line of credit, marketed as a BNPL solution in the highly competitive US market in a joint venture with fellow ASX-listed fintech Douugh. The proposed JV will result in “Douugh powered by humm” as a “BNPL” solution involving… Read more »
Fintech Zip (ASX: Z1P) announced the launch of a new virtual tap and go buy-now-pay-later credit card that can be used with Apple Pay and Google Pay to purchase products as part of a new partnership with Visa today. Called “Tap & Zip”, the fintech says the product reimagines instore BNPL, which is currently offered… Read more »
Sydney fintech Zip Co Ltd (ASX: Z1P) will let customers use Apple Pay and Google Pay to purchase products as part of a new virtual tap and go buy-now-pay-later (BNPL) credit card in a partnership with Visa. Called “Tap & Zip”, the fintech says the product reimagines instore BNPL, which is currently offered by just… Read more »
Shares in Melbourne-based buy-now-pay-later fintech Afterpay are up more than 5% in the first hour of trade this morning to top $100 after the company announced it had signed a deal with Westpac to offer savings accounts and cash flow tools to its Australian customers. The partnership will allow Afterpay (ASX:APT) to provide Westpac (ASX:… Read more »
Consumer fintech FelixGroup (ASX: FXL) – rebranding under its BNPL name, Humm – has scored a major victory over the Australian Competition and Consumer Commission (ACCC) in the fight for a slice of the renewable energy sector by buy now, pay later providers. The Australian Competition Tribunal issued a summary determination today rejecting the consumer… Read more »
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