ASX-listed buy now, pay later (BNPL) fintech Zip plans to acquire rival Sezzle in a $491 million all-scrip merger. The offer, now under a definitive agreement, will see Sezzle (ASX: SZL) investors swap their holding for 0.98 Zip (ASX: Z1P) shares, with Sezzle priced at $1.78 and Zip, $2.21. The transaction offers 22% premium on… Read more »
ASX-listed buy-now-pay-later Zip is ramping up its offshore presence in one of the world biggest markets, taking a US$50 million (A$70m) stake in Indian BNPL ZestMoney. The six-year-old Indian fintech is the country’s market leading BNPL, with more than 11 million registered users, more than 10,000 online merchants and 75,000-plus physical stores on its customer… Read more »
ASX-listed BNPL Afterpay helped generate an impressive $21 billion in sales in FY21, up 90% on the previous year, thanks to 16 million customers. But the company also did a stellar job growing its losses, which jumped 600%, from a $19.8m statutory loss in FY20 to $156.3 million last financial year. With a $39 billion… Read more »
Shares in BNPL Zip crashed nearly 8% today after the company released its Q4 trading update. The fintech (ASX: Z1P) painted a rosy growth picture, but analyst nemesis UBS said the 4Q volumes “were below expectations” resulting in a “significant volume miss” compared to forecasts, with US momentum starting to slow. Zip closed at $6.99,… Read more »
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 »
Zip Co. (ASX: Z1P) has raised another A$400 million via a seven-year unsecured convertible notes to fund its international expansion plans. The not-yet profitable BNPL’s latest raise follows a similar $1.5 billion raise by Afterpay (ASX: APT) via convertible notes due in 2026. Co-founder and COO Peter Gray said they were “very pleased with the… 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 »
ASX-listed buy-now-pay-later fintech Zip Co. is moving into territory recently claimed by rival Latitude Pay, announcing it will offer it Zip BNPL product at Harvey Norman, Domayne and Joyce Mayne franchisee stores. Co-founder and COO Peter Gray said the partnership delivers on Zip’s strategic vision. “We are thrilled to partner with such iconic brands. We… Read more »
Westpac Group has offloaded its 10.7% stake in fintech Zip Co Limited (ASX: Z1P) in a deal that should net the bank around $300 million in profit. The sale comes 24 hours after the bank announced a collaboration with Afterpay that will see the rival BNPL service offer a savings account and other cashflow management… 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 »
The elephant entered the buy now, pay later (BNPL) room on Tuesday and the rockstar stocks of the ASX took a massive hit as a result. PayPal announced the launch of its ‘Pay in 4’ platform in the US, which mimics Afterpay’s 4 instalment solution. The announcements sent Australian-listed BNPL shares into a nosedive, with… Read more »
BNPL fintech Zip is turning its attention to small business lending, launching Zip Business just 48 hours after rival Afterpay announced its European expansion plans. Zip shares have skyrocketed again, rising nearly 19% to $8.99 in the first 90 minutes of trade today, having started the week at $6.56. With its annual FY2020 results announced… Read more »
ASX-listed buy-now-pay-later stocks continue to be catnip for investors with shares in Afterpay and Zip Co. both soaring to fresh highs on Monday following performance updates ahead of both companies releasing their FY2020 results on Thursday. Afterpay (ASX: APT) shares rose 4.79% on Monday to close a new record of $82.73 after announcing plans to… Read more »
Milkrun, the last local grocery delivery standing, is still trying to find fresh capital after raising $75 million
Logistics giant Wisetech Global just gobbled up another tech startup for $327 million
Employee wellbeing startup Foremind raises $200,000 for construction industry mental health support
Salesforce sheds its Australian VC arm amid swingeing job cuts
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