Zip: launches $60M raise

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Zip: launches $60M raise

Zip: launches $60M raise

  • Buy-now-pay-later service Zip Co (Z1P) is raising $60M to fund its global expansion
  • The company says it wants to capitalise on the $630B flexible payment market in the U.K.
  • While the company awaits the raise, it has entered a trading halt until next Tuesday
  • Professional and sophisticated investors will have the chance to buy into the company at $3.70 per share to raise $50 million
  • Zip’s last closing price is $3.92 per share
  • Zip said as of October 31, it had 1.6 million customers, up 77 per cent from a year ago