Zip Co (ASX:Z1P) completes acquisition of QuadPay

Company News

by Rachael Jones

Zip Co (ASX:Z1P) is pleased to announce that the acquisition of QuadPay, Inc was completed yesterday and the issuance of $200 million in convertible notes and warrants completed today.

QuadPay is a leading, high growth, US-based BNPL player disrupting the credit card industry.

It enables customers to pay in 4 interestfree instalments over 6 weeks, online and instore.

They recently launched partnerships with Fiserv and MasterCard Vyze as well as leading retailers such as Fanatics and Mercari.

Shares in Zip Co (ASX:Z1P) are trading 5.13 per cent lower at $8.69.