Australian buy now, pay later business Zip is set to acquire its US counterpart.
In Brief:
It's purchasing rival company Sezzle for A$491mn.
Zip will add 8.8mn customers and 60,500 merchants in the US.
Zip will also look to raise $50mn funding.
What does this mean?
This is part of a number of deals Zip is making as it looks to scale on an international level. It’s already agreed to buy South African Payflex, and purchased Europe’s Twisto.
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