AfterPay

Commonwealth Bank has invested in Klarna, a Swedish rival to Afterpay, and will bring the European buy now, pay later provider to Australia. The deal accompanies the bank’s continued investment in its digital capabilities. CommBank invested US$100 million in the fintech’s US$460 million funding round, announced yesterday, which values the

Payright

Australian Buy Now, Pay Later provider Payright has completed a $27 million Series D fundraise through a mix of debt and equity, led by corporate advisory firm Henslow in partnership with wealth manager Escala Partners. Founded by brothers Piers Redward and Myles Redward in 2016, the business has raised more

Buy now, pay later (BNPL) has changed the way Australians pay for goods and services and usage is growing. A recent Which-50 commissioned study by Pureprofile found the majority of people recognised a BNPL platform and more than half of the respondents have used the payment method before. From the

As Australia’s buy now pay later (BNPL) bill races towards $1 billion, driven by the popularity of services like AfterPay and ZipPay, research commissioned by Which-50 paints a picture of growing impulsivity — especially by younger consumers — and raises some questions about the sustainability of the model. According to

Nick Molnar, Afterpay co-founder and CEO has stepped down with co-founder Anthony Eisen to replace him as CEO and managing director of the company.  Molnar will take up the new position of global chief revenue officer. Sign up for Which-50’s Irregular Insights newsletter The executive reshuffle follows news that Visa

Australia’s financial crime watchdog AUSTRAC has ordered the appointment of an external auditor to examine Afterpay’s compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (the AML/CTF Act). In response to the news Afterpay’s shares plummeted 13 per cent to $22.19 a share. The buy now, pay later scheme

ecommerce payment online shopping customer consumer

Buy now, pay later platforms are still booming with new research from Roy Morgan showing in the past 12 months 1.59 million Australians are using platforms like Afterpay and Zip. The report, Digital Payment Solutions Currency Report showed more than 40 per cent of those using buy now, pay later

Online payments

Australian buy now, pay later provider PayRight has raised over $30 million dollars in funding as it eyes international expansion and the deployment of a custom digital platform. Sign up for Which-50’s Irregular Insights newsletter The vast majority of the funding has been generated in the last 12 months, led

investigating report

Buy now, pay later platforms have welcomed a final report into the credit and financial services sector that was handed down late Friday afternoon. The senate inquiry made a number for recommendations to companies like Afterpay, Zip Pay and FlexiGroup, but none of those recommendations included expensive credit checks for

stock drop finance financial

The Australian and Security Exchange Commission is looking into why the share prices of buy now, pay later platforms Afterpay, Zip and Flexigroup plummeted on Wednesday morning. The market volatility occured two days before a senate committee examining the buy now, pay later sector hands down its final report. According