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Zip in talks to buy Sezzle

Zip in talks to buy Sezzle

Australian buy now, pay later outfit Zip has confirmed that it is in talks about acquiring US rival Sezzle.

Responding to media reports, the firms issued separate statements confirming discussions but stressing that no definitive agreement has been reached.

Zip says the talks are "preliminary in nature and there is no certainty that the discussions will result in a transaction of any kind".

According to Reuters, Sezzle has a market capitalisation of almost A$425 million, while Zip is valued at A$1.94 billion.

Zip has made a host of deals in recent months as it looks to scale and compete with the likes of Klarna and Afterpay in the thriving BNPL market.

In September it agreed to buy South Africa's Payflex and invest in India's ZestMoney, following up the May acquisitions of European provider Twisto and UAE-based Spotii, giving the Australian vendor an on-the-ground presence in a host of new markets.

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