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