Zip Co

Zip Co Limited, often called Zip, is an Australian digital financial services company operating in Australia, New Zealand, and the USA. As of their FY24 report, they have 6.0 million active customers and a transaction volume of A$10.1 billion, with revenue of A$868.0 million.

Zip was founded in 2013 by Larry Diamond and Peter Gray as Zip Money, offering digital credit to customers. They later introduced Zip Pay for everyday purchases. In 2015, the company was listed on the Australian Securities Exchange as zipMoney Limited. In 2016, Zip acquired the popular finance app Pocketbook.

In 2017, Zip secured a $260 million debt facility and was ranked #7 on Deloitte’s Technology Fast 500 APAC. The company rebranded from ZipMoney Limited to Zip Co Limited in December 2017 and changed its ASX ticker code from ‘ZML’ to ‘ZIP’ in January 2018.

Zip expanded by acquiring PartPay in 2019 and SpotCap ANZ the same year. In 2020, they bought Quadpay Inc for $430 million. By March 2021, Zip was operating in multiple countries, including the United Kingdom and the USA.

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Category:Companies of Australia