Economy & Politics

Purchase on account “Buy now, pay later” is becoming a global fintech trend

Klarna advertisement in New Yorkimago images / Levine-Roberts

Nick Molnar laid the foundation for his success out of necessity. Just two years after it was founded, in 2016, he went public with his start-up – otherwise there would have been no investor money, the founder later said in a Forbes interview. His home country, Australia, is actually rather beyond the perspective of many venture capitalists.

It didn’t stop his fintech. The company of the now 30-year-old founder is now valued on the stock exchange at 21.6 billion Australian dollars (around 13.3 billion euros). That is more than the well-known European financial start-ups like Revolut or N26, which, however, are not yet on the stock exchange. Afterpay’s share price has shot up in the past few months, Molnar is said to be the youngest self-made billionaire in his country.

Afterpay is one of a handful of promising fintechs that want to break into a particular global market. The Swedish fintech Klarna – recently valued at around 9 billion euros – is also one of them. The company’s payment offer is summarized under the umbrella term “Buy now, pay later” – in Germany also known as purchase on account or in the form of consumer loans.

What do investors like about the model? And who are the most important startups? You can read the full analysis today on Finance Forward, the new finance portal from and OMR. You can register for the daily newsletter here.


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