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.