Australian Fintech Zip Co Acquires BNPL Players Twisto and Spotii For $160M

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Australian fintech Zip Co announced that it is in the process of acquiring buy-now-pay-later (BNPL) companies Prague based Twisto and UAE based Spotii via its subsidiary Zip UK for a total consideration of $160 million as it looks to expand its geographic footprint in Europe and the Midle East. Zip is purchasing the remaining 89.94% shares in Twisto for $140m and the remaining shares in Spotii for around $20m. Zip Co had earlier acquired Australia based Pocketbook, New Zealand based PartPay, and the US based Quadpay.

Founded in 2013 by Larry Diamond, Niamh Mc Enaney, Peter Gray, Sydney headquartered Zip Co is a publicly listed online payments technology company that offers consumers credit options for online shopping.

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