![]() In December 2019, Zip Co announced that it has received firm commitments to raise $60 million before costs via a placement of 16,216,216 ordinary shares to fund its global expansion. In September 2019, Zip Co acquired SpotCap ANZ to enter the unsecured business lending market. The acquisition accelerated Zip’s global expansion. In August 2019, Zip Co acquired 100% of the shares in PartPay Limited, a Buy Now, Pay Later company from New Zealand with early operations in the UK. In August 2018, the Zip app was launched in the Google Play Store and then the Apple App Store later that year. In December 2017, the company changed its name from ‘ZipMoney Limited’ to ‘Zip Co Limited’, Zip Pay now known simply as Zip and in January 2018, the ASX ticker code was changed from ‘ZML’ to ‘Z1P’. Zip was also ranked #7 on Deloitte’s Technology Fast 500 APAC. ![]() ![]() In 2017, Zip secured a $260 million debt facility with $200 million in funding from National Australia Bank, and a $40 million equity investment from Westpac Bank. In 2016, Zip acquired Pocketbook, one of the most popular finance apps in Australia. In 2015, Zip was listed on the Australian Securities Exchange as zipMoney Limited (ASX: ZML). The organisation soon launched a second product, Zip Pay, to cater for everyday purchases, including retail and health. The company was founded by Larry Diamond and Peter Gray in 2013 as Zip Money, and offered a digital credit option to customers. As of 21 December 2022, the market capitalization of Zip was $431 million AUD. According to their FY22 financial scorecard, across the group they had 12 million total customer account, a transaction volume of $8.7 billion AUD, revenue of $620 million AUD, and cash gross profit of $203.7 million. ![]() Zip Co Limited (abbreviated as Zip Co) is a global 'buy now pay later' financial technology company with operations in Australia, New Zealand and the USA. ![]()
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