Building from Zip’s market presence in the United Kingdom, the acquisition will provide a gateway to one of the world's largest eCommerce markets and access to all 27 member states of the European Union (EU).

Founded in 2013, Twisto has served almost one million customers, across 22,000 merchants and is a leading BNPL platform in Central Europe. The company has developed a unique omnichannel payments platform, giving customers full control and the freedom to pay for their everyday purchases over short and longer-term installments. Some of Twisto’s flagship merchants include KFC, Pizza Hut, Secret Escapes, Gap, New Balance, Delivery Hero, Takeway, Yves Rocher and Under Armour.

The EU is the second largest eCommerce market in the world, with AUD$1.1 trillion annual volume. Twisto’s European Payment Institution License enables Zip to offer payments services across all 27 EU member states, subject to regulatory consents. BNPL transactions in the EU grew by 292% between 2018 and 2020 (Kaleido Intelligence 2021)[1], signalling a significant growth opportunity in an accelerating market.

The investment supports Zip’s global BNPL integration strategy with Twisto now well positioned to leverage the benefits of Zip’s international network. With a presence in 13 countries, the acquisition of Twisto marks another milestone in Zip’s mission to provide fair, transparent and flexible payment options for customers around the world.

Zip Co-Founder and Chief Executive Officer Larry Diamond said: “The acquisition of Twisto demonstrates our commitment to global growth and follows our ‘Coalition of Founders’ model, where we back strong leaders with a shared vision and deep cultural alignment.

Our increased presence in Europe enables us to tap new markets, win global merchants, and bolster our product offering. We are excited to officially add the EU to our global footprint and look forward to working with Michal and the team to continue to develop innovative BNPL solutions for the financial well-being of customers and merchants.”

Michal Smida, Twisto’s Founder and CEO, said: “We’re super excited to join the global Zip team to accelerate our strategic expansion plans across Europe. Combining our omnichannel product offering, proprietary technology for real time credit underwriting, access to Zip's network of global merchants, backed by a strong capital base, we are at full strength to capture the market opportunities ahead.”

Zip first invested in Twisto in December 2020. The acquisition will provide Twisto with access to the expertise, finance and global network needed to accelerate growth and implement international best practice to the region.