Square goes big on Buy Now Pay Later
03 August 2021
Square announced the acquisition of Afterpay (both companies are in our portfolios) for $29bn. The deal validates our investment thesis on Afterpay and the strong dynamics in Buy Now Pay Later.
Bottom line
With its largest acquisition ever, Square is banking on a rapidly emerging payment trend that has the potential to replace traditional credit cards, especially among the younger generations. It also materializes another diversification move away from traditional payments after the acquisition of Tidal and the launch of a DeFi platform.
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