UAE – Mubasher: Dubai-based Postpay, a buy now and pay later (BNPL) firm, has secured a strategic equity investment from AP Ventures and Australia’s Afterpay, a global BNPL leader.
This equity investment will enable Postpay to offer better services to leading retail groups and brands across the GCC and the rest of the MENA region, according to a press release on Monday.
Postpay works with global brands, including H&M, Footlocker, Dermalogica, and regional merchants such as The Entertainer, Kcal, and Squat Wolf.
Alongside the investment from Afterpay and AP Ventures, expected to be completed in the upcoming period, APV will be nominating a director to join the board of Postpay.
The Founder and CEO of Postpay, Tariq Sheikh, said: “For Postpay, this strategic investment provides not only capital to enable us to accelerate our growth but also an opportunity to collaborate and bring new learnings from our new shareholders as we expand in the MENA region.”
Meanwhile, the Co-CEO and Co-Founder at Afterpay, Anthony Eisen, commented: “We have seen first-hand the incredible uptake of BNPL globally and have no doubt that Postpay will deliver a best-in-class solution across the Middle East.”
