Afterpay

Afterpay Limited
Type of businessSubsidiary
Type of site
Fintech
FoundedOctober 2014; 9 years ago (2014-10)
Area servedAustralia
New Zealand
Canada
United States
United Kingdom
Founder(s)Nick Molnar
Anthony Eisen
Key people
IndustryFinancial technology
RevenueIncrease AU$924.7 million (FY2021)
Net incomeDecrease AU$159.4 million (FY2021)
ParentBlock, Inc.
Subsidiaries
  • Afterpay Holdings Pty Ltd
  • Afterpay US, Inc.
  • Afterpay Australia Pty Ltd
  • Touchcorp Limited
  • Clearpay Finance Limited
  • Afterpay Canada Limited
URLafterpay.com
UsersIncrease 16.2 million (June 2021)
Current statusActive
Native client(s) on

Afterpay Limited (abbreviated as Afterpay) is a multinational financial technology company owned by Block, Inc., best known for its buy now, pay later (BNPL) service. It was founded in Australia and also operates in the United Kingdom, Canada, the United States, and New Zealand. Afterpay was founded in 2014 by Nick Molnar and Anthony Eisen.[1]

In June 2017, Afterpay merged with one of its technology suppliers, Touchcorp, to form the Afterpay Touch Group.[2] In November 2019, the company was renamed Afterpay Limited.[3] In August 2021, Afterpay and American payments company Square, Inc. (later renamed Block, Inc. in December 2021) announced they had entered into arrangements for Square to acquire Afterpay for US$29 billion (A$39 billion), which was later completed on January 31, 2022.[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. ^ Simmons, David. "Afterpay and Touchcorp Merger is Now Complete". Business News Australia. Retrieved 31 March 2019.
  3. ^ "Results of 2019 Annual General Meeting". APT: Announcements. Australian Securities Exchange. Retrieved 7 November 2020.
  4. ^ Shapiro, Jonathan; Eyers, James (2 August 2021). "'Perfect partner': Square buys Afterpay in $39b deal". Financial Review. Australia. Retrieved 2 August 2021.
  5. ^ "Square, Inc. Announces Plans to Acquire Afterpay, Strengthening and Enabling Further Integration Between its Seller and Cash App Ecosystems" (Press release). Square, Inc. 2 August 2021. Retrieved 2 August 2021.
  6. ^ "Block, Inc. Completes Acquisition of Afterpay" (Press release). Block, Inc. 31 January 2022.