Total amount raised
$565.7 Million
Latest funding date
8/1/2020
Location
Afterpay has successfully raised funding over four rounds, with notable investments from Mitsubishi UFJ Financial Group and Tencent. The latest funding was raised from a Post-IPO Equity round.
Keep reading to explore the intricacies of Afterpay's fundraising journey and the investors backing this innovative platform.
What Is Afterpay?
Afterpay is a financial technology company headquartered in Melbourne, Victoria, Australia. It operates in the E-Commerce, FinTech, Payments, and Retail Technology sectors. The company employs between 501 and 1000 people.
Afterpay allows consumers to buy products immediately and pay for them in four simple installments over a short period. The service is available both online and in physical stores, providing a flexible and user-friendly payment solution.
How Much Funding Has Afterpay Raised?
- Post-IPO Equity Round
- Amount Raised: USD 117,000,000
- Date: August 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund global growth initiatives.
- Post-IPO Equity Round
- Amount Raised: USD 200,000,000
- Date: November 2019
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance technological capabilities.
- Post-IPO Equity Round
- Amount Raised: USD 390,000,000
- Date: May 2020
- Lead Investors: Tencent
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen strategic partnerships and accelerate growth.
- Post-IPO Equity Round
- Amount Raised: Not publicly disclosed
- Date: August 2020
- Lead Investors: Mitsubishi UFJ Financial Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing expansion and operational scaling.
Total Amount Raised: USD 707,000,000
Current Valuation: Not publicly disclosed
Key Investors
- Mitsubishi UFJ Financial Group
- Details: Mitsubishi UFJ Financial Group is one of the largest financial institutions in Japan, offering a wide range of financial services including banking, trust banking, securities, credit cards, and leasing. It operates globally with a strong presence in Asia, the Americas, and Europe.
- Investment Focus Areas: Banking, financial services, asset management.
- Notable Investments: Morgan Stanley, Grab, MUFG Union Bank.
- Tencent
- Details: Tencent is a Chinese multinational conglomerate holding company known for its various internet-related services and products, entertainment, artificial intelligence, and technology both in China and globally. It is one of the world's largest technology companies.
- Investment Focus Areas: Technology, gaming, social media.
- Notable Investments: Epic Games, Spotify, Tesla.
- Coatue
- Details: Coatue Management is a global investment manager focused on public and private companies in the technology, media, and telecommunications sectors. It is known for its data-driven approach to investing.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: ByteDance, DoorDash, Snap Inc.
What's Next for Afterpay?
Afterpay stands at the cusp of significant growth opportunities, particularly in financial planning, funds management, and technology. The burgeoning ETF market and the increasing focus on responsible investing present substantial avenues for expansion. As the company continues to innovate, it is well-positioned to capitalize on these trends.
Future fundraising efforts are likely to be bolstered by the robust environment for investment activities. The focus on top-performing funds and financial planning insights suggests a favorable landscape for securing additional capital. However, Afterpay must navigate regulatory changes and heightened competition from other financial services and technology firms.
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