Australia-based Afterpay, a ‘buy-now, pay-later’ platform that facilitates e-commerce between retail merchants and customers, has acquired EmpatKali, which operates a similar service in Indonesia.
The financial details of the transaction were not disclosed.
When contacted EmpatKali’s Co-founder Jamie Camidge told e27. “Southeast Asia, especially Indonesia, is massive and a fast-growing market, and it represents a unique opportunity for both firms to grow together.”
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Started in 2018, EmpatKali is a payment solution that allows consumers to shop and pay in four equal instalments with no interest. They can do shopping at its merchant partners, both online and offline.
Camidge claims that the startup has 150 merchants on its platform. Afterpay’s acquisition will further boost its growth in the region. “We want to get on with the current growth and acquired more merchant partners.”
Founded in 2015, Afterpay allows shoppers to receive products immediately and pay in four simple instalments over a short period of time. The service is free for customers.
Afterpay is offered by more than 42,500 retailers and is used by more than 6.6 million customers globally.
Its services are also available in New Zealand, the US and the UK where it is called Clearpay.
As per a Financial Review report, Afterpay is adding 20,500 new customers a day and plans to expand into offshore markets – with Canada and select Asian countries next on the itinerary.
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Image Credit: EmpatKali
The post ASX-listed Afterpay acquires EmpatKali to take its ‘buy-now, pay-later’ biz to SEA appeared first on e27.