Total amount raised
$707 Million
Latest funding date
3/1/2021
Location
Afterpay has successfully raised funding over five rounds, with notable investments from Mitsubishi UFJ Financial Group and Tencent. The latest funding was raised from a Convertible Notes round. Block, Inc. completed its acquisition of Afterpay in January 2022.
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.
- Convertible Notes
- Amount Raised: AUD 1.5 billion (Zero Coupon Convertible Notes due 2026)
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
Total Amount Raised: USD 707,000,000. Excludes the undisclosed August 2020 Mitsubishi UFJ Financial Group amount and the AUD 1.5 billion March 2021 convertible notes, which are not USD-stated.
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?
Block, Inc. completed its acquisition of all issued Afterpay shares in January 2022, and Afterpay's co-founders joined Block to help lead Afterpay's seller and consumer businesses. Afterpay offers buy now, pay later installment payments within Block's Square and Cash App ecosystems. The all-stock deal carried an implied value of approximately US$29 billion (A$39 billion) at its August 2021 announcement. As part of Block, Afterpay no longer secures capital on its own.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Afterpay and gather other critical business insights. Sign up for free to start enhancing your sales strategies today.
