Afterpay's (ASX:APT) subsidiary Clearpay buys Pagantis in Europe

Company News

by Rachael Jones

Afterpay’s (ASX:APT) subsidiary, Clearpay Europe, has completed its acquisition of Pagantis SAU and PMT Technology SLU, collectively known as Pagantis.

This move prepares Afterpay for their expansion into Europe.

With the Pagantis acquisition completed, Afterpay will progress with the launch of its Clearpay services in Europe.

Spain, France and Italy will be the first countries to go live with Clearpay.

These countries combined have an addressable ecommerce market that exceeds €150 billion.

Shares in Afterpay (ASX:APT) 8.74 per cent higher at $116.56.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.