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

August 24, 2020

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