Aussie BNPL firm Zip confirms Sezzle takeover talks
Australian buy now, pay later (BNPL) firm Zip has confirmed it is in talks over the potential acquisition of rival US BNPL fintech Sezzle.
Sezzle was founded in 2016 with HQ in Minnesota, US
The fintech says the discussions with Sezzle are “preliminary in nature” and there is no certainty that a deal will go ahead.
Zip says its board remains committed to ensuring any potential deal or acquisition delivers value to its shareholders, promising to only pursue “transformational transactions” that accelerate its broader strategic objectives.
Zip has spent big on several acquisitions to boost its global footprint over the past 18 months.
Last year, it snapped up the remaining shares in Twisto Payments and UAE-based Spotii Holdings.
The full acquisition of Twisto, worth $89 million, gives Zip access to 27 European Union countries through Twisto’s payment institution licence.
At the time, Zip said both transactions align with its global expansion plans and what it calls the “rapidly accelerating” global BNPL market.
The firm seeks to build a “single global BNPL solution across multiple markets”.
It first moved in September 2019 to acquire New Zealand technology platform PartPay in a $32 million deal. A year later it bought up US BNPL firm QuadPay for $296 million.
