Openpay to acquire automotive BNPL provider Payment Assist

Wednesday 23 June 2021 15:51 CET | News

Openpay, an Australia-based Buy Now, Pay Later (BNPL) provider, is set to acquire Payment Assist, a UK-based automotive BNPL provider, in a deal worth up to USD 39.8 million.

The acquisition is being regarded as one of the largest made by a BNPL firm in the UK to date. Subject to regulatory approval, Payment Assist is set to be acquired for USD 16 million upfront, plus an earn-out component of up to USD 23.7 million. Openpay anticipates that the buy will be completed in the first half of the financial year 2022.

Payment Assist was founded in 2013, and has serviced 500,000 customers.

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Keywords: BNPL, acquisition, online payments
Categories: Payments & Commerce | Online Payments
Countries: United Kingdom
This article is part of category

Payments & Commerce