Australia's Zip is buying U.S.-based Sezzle for AU$491 million ($352.59 million) in the latest acquisition in the buy now pay later sector.
Buy now pay later has undergone tremendous growth during the pandemic as a new form of consumer credit and consumer payments. Block last year agreed to acquire Afterpay for $29 billion and recently closed the deal.
Sezzle, which is publicly listed in Australia, also just reported that it swung to a loss for the second half of 2021.
Correction: This story has been updated to correct the price of Zip's Sezzle acquisition.