The capital raising was oversubscribed and closed early with the support of new and existing institutional, sophisticated and professional investors. The transaction was reported in today’s AFR.
Zip is a leading player in the digital retail finance industry. They offer point-of-sale credit and digital payment services to consumers and provide a variety of retail finance solutions to small, medium and enterprise merchants across numerous industries, both online and in-store, including interest free and buy now, pay later.
ABL has a long-standing relationship with Zip and has advised the company on numerous landmark transactions in the past, including the $40 million investment from Westpac Banking Corporation and associated strategic partnership between Zip and Westpac.
Zip’s Managing Director and CEO, Larry Diamond, said that the “additional equity capital will enable Zip to continue its significant growth through further investment to support our brand, enhance our product, and monetise our assets”.
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Arnold Bloch Leibler is a premium Australian commercial law firm renowned for advising clients on their most important transactions, commercial issues and disputes. From offices in Melbourne and Sydney, the firm provides advice to a diverse range of entrepreneurial Australian listed companies, family businesses, high-net-worth individuals and international corporations. The firm also has a dedicated pro bono practice providing advice on social, environmental and cultural issues to more than 150 charitable and not-for-profit organisations.