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By Reuters Staff
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April 14 (Reuters) - Australian buy-now-pay-later (BNPL) firm Zip Co said on Wednesday it will raise A$400 million ($307.48 million) through senior unsecured convertible notes to fund its growth and expansion plans.
On Tuesday, the BNPL firm reported a record quarterly earnings and unveiled plans to expand into Canada and Southeast Asia.
“The additional capital from this offering will support the active pursuit of both core and international growth opportunities,” Chief Operating Officer Peter Gray said in a statement.
BNPL firms, which allow users to pay for their purchases over several installments, have seen a boom in transaction volumes and active customers as the pandemic changed consumer behaviour drastically, moving more towards the online space.
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Australian buy-now-pay-later (BNPL) firm Zip Co said on Wednesday it will raise A$400 million ($307.48 million) through senior unsecured convertible notes to fund its growth and expansion plans.
On Tuesday, the BNPL firm reported a record quarterly earnings and unveiled plans to expand into Canada and Southeast Asia.
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Try refreshing your browser, or Australia s buy-now-pay-later firm Zip to raise $307 mln for expansion Back to video
“The additional capital from this offering will support the active pursuit of both core and international growth opportunities,” Chief Operating Officer Peter Gray said in a statement.