Business
Zip snaps up two overseas buy now, pay later companies – The Australian Financial Review
The fintech will pay $140 million for the remaining shares in European operator Twisto Payments and $21 million to buy out Spotti, which operates in the Middle…
The market initially cheered the deals as Zips share price rose as much as 4 per cent, but the gains were pared as the company ended the session 0.85 per cent higher at $7.10.
So far this year, Zip has outperformed rival buy now, pay later operators Afterpay and Sezzle. Zip has gained 36 per cent in 2021. That compares to a 21 per cent fall in Afterpay, which has a far larger market capitalisation of $27 billion, and a 26 per cent gain for smaller rival Sezzle.
All three companies have stated their…
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