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MPs Warn Buy Now, Pay Later Firms ‘Could Be the Next Wonga’

“More than 70 cross-party MPs are calling for regulation of buy now, pay later firms such as Klarna and Clearpay, which they say could be “the next Wonga waiting to happen.” The group is planning to table an amendment to the financial services bill on Wednesday that would force the Treasury to introduce regulations within […]


Buy Now, Pay Later Boom Brings ‘Shift Away From Credit to Debit’

“Americans are increasingly taking advantage of the buy-now, pay-later (BNPL) offerings thanks to a growing number of financial technology companies. Splitting payments — as opposed to bulk purchases on credit cards that would accrue interest until being paid — is built on the premise that there is a “shift away from credit to debit,” Nicholas […]


Lender Affirm Prices IPO Above Range to Raise $1.2 billion

“Affirm Holdings Inc. , which provides installment loans to online shoppers, priced its U.S. initial public offering above its marketed range to raise $1.2 billion. In the first major U.S. technology listing this year, Affirm sold 24.6 million shares for $49 each, according to a statement on Wednesday, confirming an earlier Bloomberg News report. The […]


Max Levchin’s Affirm to Raise up to $935 Mln in U.S. IPO

“Lending startup Affirm Holdings Inc, founded by PayPal Holdings Inc co-founder Max Levchin, aims to raise as much as $935 million in its initial public offering, it said in a filing on Tuesday. Affirm, which will list its shares on Nasdaq, had planned to complete its IPO before the end of last year, but was […]
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Zilch Closes Additional $30M Equity Funding

“Zilch , a London, UK-based based Buy Now, Pay Later (BNPL) startup, secured an additional $30m equity funding and closed its pre Series B round. Investors included Simon Nixon (Seek Ventures and co-founder of Money Supermarket) and Gauss Ventures. Zilch is now in prime position to continue scaling its unique over-the-top BNPL business, which has seen customer […]


Affirm Postpones Its Initial Public Offering

“Affirm Holdings Inc. is postponing its initial public offering, according to people familiar with the matter, the second company in as many days to pull back from the red-hot IPO market. The point-of-sale lender, which had been set to begin marketing its shares to investors this coming week ahead of a December listing, now won’t […]

On The Wires

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Klarna partners with Verifone to enable superior shopping experiences in physical stores globally

“Klarna, the leading global payments and shopping service, today announces a strategic partnership with Verifone, a global leader in payments and commerce solutions, that will make Klarna available as the first-ever buy now pay later solution to millions of Verifone devices in the US and Europe.  The integration to Verifone’s Cloud Services platform empowers consumers […]