UAE’s ‘Buy Now, Pay Later’ Platform Spotii Gains Strategic Investment from Australia’s Zip Co

UAE-based ‘buy now, pay later’ platform, Spotii, has announced that it has raised a strategic investment from another ‘buy now, pay later’, platform, Australia’s Zip Co.

While the investment figure is undisclosed, it’s understood that the working agreement will see Zip Co support Spotii with access to public finance support, technical knowhow and access to a global network of merchants. In turn, it is hoped that it will provide GCC merchants with accelerated revenue growth and potential access to markets such as the US, UK, Australia and New Zealand.

Another interesting aspect of the agreement is a proposed sharing of technology, data analytics, and risk-management.

“Spotii’s focus on data analytics, technology, exciting product roadmap, and customer-friendly approach ensures the company will remain the region’s leader, delivering an exceptional experience for merchants and customers,” said Larry Diamond, CEO and managing director of Zip Co. “Together, our vision is to disrupt the payments sector with digital and fairer alternatives. We look forward to the exciting road ahead. Zip is excited to be partnering with Anuscha, Ziyaad, and the rest of the Spotii team."

Spotii, which was founded by sibling founders, Ziyaad Ahmed and Anuscha Iqbal, has grown throughout 2020 amidst the pandemic, expanding to KSA in November.