Business
From $100,000 to $1b in three years: The investor sitting on an Afterpay windfall – Sydney Morning Herald
Starry-eyed Afterpay investors might not know that the buy now, pay later behemoth’s $38 billion market valuation is based on a business it doesn’t entirely own….
Matrix was a key adviser to Afterpay for its US plans and the cash from the venture fund underpinned the companys eventual foray into the lucrative market.
Afterpay earmarked another 10 per cent of the equity in the US business for employees who received lucrative options to jump ship from top tech companies to join the Aussie startup.
The latest capital raising will allow Afterpay to buy back around one-third of Matrixs underlying interest in the US business for $373 million. Matrixs remaining…
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