Thursday, November 14, 2024
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New York

Afterpay: Expands into E.U. with $82M Pagantis purchase

  • Buy now, pay later darling Afterpay (APT) is stepping into the European Union with the $82M purchase of Spain-based fintech company Pagantis
  • Pagantis is a buy now, pay later company operating across Spain, France, and Italy, with regulatory approval for Portugal, too
  • Afterpay will reconfigure Pagantis existing tech to the Afterpay core product and rebrand the company as Clearpay
  • Afterpay said the addressable eCommerce market in the E.U. is worth almost $500 billion
  • The launch of the new Afterpay arm is slated for the first quarter of the 2021 calendar year
  • Afterpay shares opened strong this morning, climbing 3.74 per cent to a new intraday high of $81.90 in early action

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