Zip Co Limited (ASX: ZIP), an Australian leader in the digital retail finance and payments industries, closed a refinancing agreement for a US$225m debt facility with Victory Park Capital.
The deal will support the growth of Zip’s US receivables.
As the third transaction between Zip and VPC, the new debt facility represents an extension of their long-standing relationship. The two companies began their partnership in 2015 with a A$108m asset-backed warehouse facility that later grew to A$200m. In 2020, VPC and Zip closed a A$100m debt facility to fund receivables and support the Zip Business platform.
Founded in Australia in 2013, ASX-listed Zip Co is a global financial technology company, offering products and services that bring customers and merchants together. Operating in two core markets – Australia, New Zealand (ANZ) and the Americas, Zip offers point-of-sale payment solutions, connecting millions of customers with its global network of tens of thousands of merchants.
FinSMEs
17/01/2024