Zip Co
“Can a BNPL lender survive the post-Affirm/Klarna shakeout by focusing on financially underestimated consumers in ANZ and the US?”
Founded2013
HQSydney, Australia
Latest roundASX-listed (ZIP)
IndustryFintech / Lending
The story
Founded 2013 in Australia as a revolving point-of-sale credit alternative to credit cards (Zip Pay, Zip Money). Acquired QuadPay in 2020 to enter the US market with a more standard pay-in-4 BNPL product — which has since become Zip's largest and fastest-growing segment. Has wound down Canada, Singapore, Mexico and UK operations, narrowing focus to ANZ and US. Distribution strategy now leans on Stripe and Adyen as embedded checkout partners.
Product timeline
2013
Founded in Australia as a point-of-sale credit provider· founding
2020
Acquired QuadPay to enter the US BNPL market· acquisition
2022
Partnered with Cover Genius to embed XCover purchase protection into BNPL checkout· insurance
2025
Stripe US partnership expanding Zip's BNPL distribution at checkout· payments
2026
Announced rebrand of Australian products and services· pivot
Regulated entities
1
regulatory licence held by Zip Co
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
3 layers disclosed in Zip Co’s embedded-finance stack
Payments / PSP
Lending
in the full report
Accounting
in the full report
Accounting gap: minor
15 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.