Fintech & Ecommerce

Afterpay acquires its European rival

This acquisition is part of Afterpay’s global expansion plans

Afterpay

Afterpay acquires its European rival. Source: shutterstock.com

According to Ecommerce News, Afterpay has entered into an agreement to fully acquire Pagantis, a fintech company from Spain.

The report states that the Australian company is ready to pay €50 million for the buy-now-pay-later firm.

This acquisition is expected to be completed by December 2020. It would allow Afterpay to operate in France, Italy, Spain, and Portugal.

The company says these markets are highly attractive markets, because of the Millennial population of nearly 30 million people.

We’ve reported that Railsbank, a banking and payment infrastructure-provider, has confirmed its intention to acquire Wirecard’s UK division.

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