FILE PHOTO: Zip logo is seen on a smartphone in front of displayed Sezzle logo in this illustration taken January 25, 2022. REUTERS/Dado Ruvic/Illustration
SYDNEY (Reuters) -Australian buy-now-pay-later (BNPL) firm Zip Co Ltd plans to buy U.S. rival Sezzle Inc for A$491 million ($352.59 million), building its footprint in the largest retail market as sluggish trade elsewhere earned it a half-year loss.
Zip and Sezzle, which are both listed in Australia, had previously disclosed that they were discussing a buyout. They said they agreed terms on Monday, just as Zip confirmed a A$108.1 million loss for July-December, excluding one-off items, versus a small underlying profit a year earlier.
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