Afterpay

Afterpay is an Australian financial technology company that provides a "buy now, pay later" (BNPL) service. Customers can purchase items and pay for them in four interest-free installments. The company is owned by Block, Inc. and was founded in Australia in 2014 by Nick Molnar and Anthony Eisen. Afterpay operates in several countries, including the United Kingdom, Canada, the United States, and New Zealand.^[1]

Afterpay started in Australia in October 2014 and became a publicly traded company in 2016.^[2] In 2018, it expanded into the US market, partnering with retailers like Anthropologie and Urban Outfitters. By May 2020, Afterpay had five million customers in the US.^[3] It also acquired Clearpay, a UK-based BNPL service, to grow its presence in the UK.^[4][5][6]

1. ↑ Willis, Charlotte. "How a recession gave one Aussie guy a billion-dollar business idea". news.com.au. Retrieved 7 January 2021.
2. ↑ Kauflin, Jeff (3 July 2018). "How A 28-Year-Old Turned Layaway For Millennials Into A Billion-Dollar Business". Forbes. Retrieved 2 August 2021.
3. ↑ "Afterpay share price on watch after hitting 5 million active US customers". The Motley Fool Australia. 21 May 2020. Retrieved 23 May 2020.
4. ↑ "International Expansion Progresses and Capital Raising" (PDF). ASX Announcement. Afterpay. Archived from the original (PDF) on 31 March 2019. Retrieved 1 April 2019.
5. ↑ Baird, Roger. "Afterpay fine tunes UK expansion". Altfi. Retrieved 1 April 2019.
6. ↑ Wightman-Stone, Danielle (6 June 2019). "Afterpay Touch Group launches 'Clearpay' in the UK". Fashion United. Retrieved 7 June 2019.