Total amount raised
$565.7 Millions
Latest funding date
Location
Afterpay has successfully raised significant funding through multiple rounds, securing its position in the financial technology sector. The platform offers a "Buy Now, Pay Later" service, allowing users to purchase items and pay in installments.
Continue reading to delve into the details of Afterpay's funding journey and the key investors supporting this innovative service.
What Is Afterpay?
Afterpay, founded in 2014 in Sydney, Australia, offers a "Buy Now, Pay Later" service that allows consumers to purchase items and pay in four installments. The company was established by Nick Molnar and Anthony Eisen.
With a focus on providing financial flexibility, Afterpay has grown rapidly, attracting a significant user base. The platform is available both online and in-store, making it accessible for a wide range of consumers.
As of now, Afterpay employs over 1,000 people, contributing to its continuous expansion and innovation in the financial technology sector.
How Much Funding Has Afterpay Raised?
- Post-IPO Equity Round
- Amount Raised: $117M
- Date: August 2018
- Lead Investors: Citigroup Global Markets Australia, Bell Potter, Wilsons
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund global expansion, particularly into the UK market.
- Post-IPO Equity Round
- Amount Raised: $200M
- Date: November 2019
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Post-IPO Equity Round
- Amount Raised: A$390M
- Date: May 2020
- Lead Investors: Tencent
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen financial position and support strategic initiatives.
- Post-IPO Equity Round
- Amount Raised: Not publicly disclosed
- Date: August 2020
- Lead Investors: Mitsubishi UFJ Financial Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance market presence and explore new opportunities.
Total Amount Raised: $707M
Current Valuation: Not publicly disclosed
Key Investors
- Mitsubishi UFJ Financial Group
- Details: Mitsubishi UFJ Financial Group is one of the largest financial institutions in Japan, offering a wide range of financial services. It operates globally, providing banking, trust banking, securities, credit cards, and leasing services.
- Investment Focus Areas: Banking, financial services, asset management
- Notable Investments: Morgan Stanley, Bank of Ayudhya, AMP Capital
- Tencent
- Details: Tencent is a Chinese multinational conglomerate known for its various internet-related services and products. It is one of the world's largest technology companies, with a significant presence in social media, gaming, and fintech.
- Investment Focus Areas: Technology, gaming, social media
- Notable Investments: Epic Games, JD.com, Tesla
- Coatue
- Details: Coatue is a global investment firm focused on technology, media, and telecommunications. It manages both public and private equity funds, investing in companies at various stages of growth.
- Investment Focus Areas: Technology, media, telecommunications
- Notable Investments: Snap Inc., ByteDance, DoorDash
- Citigroup Global Markets Australia
- Details: Citigroup Global Markets Australia is a subsidiary of Citigroup, a leading global financial services company. It provides investment banking, capital markets, and financial advisory services.
- Investment Focus Areas: Investment banking, capital markets, financial services
- Notable Investments: Known for underwriting and managing large-scale capital raisings and IPOs across various sectors.
- Bell Potter
- Details: Bell Potter is an Australian stockbroking and financial advisory firm. It offers a range of services including investment advice, portfolio management, and capital raising.
- Investment Focus Areas: Stockbroking, investment advice, financial services
- Notable Investments: Involved in numerous capital raisings and IPOs, particularly in the Australian market.
What's Next for Afterpay?
Afterpay's future looks promising with its strategic expansion into the UK market, leveraging the acquisition of ClearPay. This move opens up significant opportunities in one of the world's largest consumer retail markets. The 'UK-Australia FinTech Bridge' agreement further facilitates this growth, fostering closer collaboration between fintech firms in both countries.
Given the strong investor confidence demonstrated by the oversubscribed $117 million capital raising, Afterpay is well-positioned for future fundraising to support its global ambitions. However, challenges such as navigating the UK's regulatory landscape and integrating ClearPay's operations remain. Successfully addressing these hurdles will be crucial for maintaining investor confidence and achieving sustained growth.
Use Clay to Get Funding Data
Sales professionals looking to gain a competitive edge should leverage Clay's platform to access comprehensive fundraising data on companies like Afterpay and gather other critical business insights.
Sign up for free on Clay and start making data-driven decisions today.
