Affirm to acquire PayBright for USD 264 mln

Friday 4 December 2020 13:20 CET | News

Affirm has announced it has entered into a definitive agreement to acquire PayBright, one of Canada’s Buy Now, Pay Later providers.

According to the press release, under the terms of the agreement, Affirm will acquire PayBright for a total cash and equity consideration of approximately USD 264 million. Additional terms of the transaction were not disclosed.

The partnership between Affirm and PayBright will unite two innovators with complementary merchant relationships and deeply aligned cultural values, and creates a payment solutions platform with expanded scale and reach. Together, Affirm and PayBright will have a larger and more diverse merchant network across the US and Canada. Additionally, PayBright’s first-mover advantage in Canada provides Affirm the opportunity to continue to expand.

Furthermore, the transaction is expected to close in the first quarter of calendar year 2021, subject to customary closing conditions.

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Keywords: Affirm, PayBright, acquisition, Buy Now, pay later, BNPL, Canada, US, merchants
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce