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Zip Secures $283M Funding Boost for U.S. Growth
20 Dec
Summary
- Zip secured a $283 million warehouse facility from Victory Park Capital.
- This funding supports Zip's U.S. buy now, pay later receivables.
- The deal aims to bolster Zip's U.S. market growth and funding capacity.
Buy now, pay later provider Zip has secured approximately $283 million in funding through a warehouse facility provided by Victory Park Capital and facilitated by Atlas SP Partners. This two-year agreement is designed to support Zip's U.S. operations and its growing portfolio of buy now, pay later receivables.
The investment is intended to bolster Zip's capacity for scaling its U.S. business and maintaining financial discipline. This comes as Zip continues to diversify its merchant base beyond fashion to include everyday purchases from retailers like Valvoline and Best Buy.
This funding injection follows a period of strong performance for Zip, which reported a 32.8% increase in total income and a 38.7% rise in total transaction volume in its most recent fiscal first quarter.
