#paybright

[nuadox]

Affirm to acquire Canadian ‘Buy Now Pay Later’ company PayBright for CAD $340M

- By Nuadox Crew -

American fintech firm Affirm today announced it has entered into a definitive agreement to acquire PayBright, one of Canada’s leading “buy-now-pay-later” providers. Under the terms of the agreement, Affirm will acquire PayBright for a total cash and equity consideration of approximately CAD $340 million.

The combination of Affirm and PayBright unites two innovators with complementary merchant relationships and deeply aligned cultural values, and creates a payment solutions platform with expanded scale and reach. Together, Affirm and PayBright will have a larger and more diverse merchant network across the United States and Canada. Additionally, PayBright’s first-mover advantage in Canada provides Affirm the opportunity to continue to expand.

The transaction is expected to close in the first quarter of calendar year 2021, subject to customary closing conditions.

Source: Affirm

Read Also

‘Buy Now Pay Later’ provider Klarna raises $650M