Zip Co snaps up Shnap and the urge
Australian FinTech venture Zip Co has bought retail tech startup Shnap.
Terms of the deal, which also involves fashion search engine the urge, were not disclosed.
Shnap is a visual search tool pitched as the Shazam for fashion. “My team and I are all so proud of everything we've accomplished over the past two years in the market,” Shnap founder, Cayley Ostrin, who will continue to run both companies, said in a LinkedIn post.
“Over a million users, live in 13 countries, translated across eight languages and Shnap, our visual search tool launched just over four months ago...I feel like we are only just getting started,” she added.
QuadPay
Earlier this year, Zip Co acquired US-based buy now, pay later venture QuadPay.
“From the start, we've been on a mission to bring fairer, faster, more flexible ways to pay to as many people as possible,” it said in a statement.
“Joining forces with QuadPay extends our operations to five countries and gives Zip access to the United States’ $5 trillion+ retail market, the world’s largest.”
It added: “This deal will create a global payments business with AU$3 billion annualised TTV, 3.5 million+ customers and 26K+ merchants. We’ll be challenging establishment models and changing the landscape in Australia, New Zealand, USA, UK, and South Africa.”
Sign up for our free retail technology newsletter here.
Continue reading…