Zip strategically acquires Czech fintech Twisto

Sydney-headquartered Buy Now, Pay Later (BNPL) provider Zip.co has issued an announcement detailing the terms of its acquisition of Prague-based Central European BNPL provider Twisto Payments. This part of Zip’s expansion moves across Europe.

Currently operational in 13 countries, Zip’s acquisition of Twisto marks a notable milestone in its mission to offer fair, transparent, and seamless payment solutions to its customers.

Zip co-founder and CEO Larry Diamond says, “The acquisition of Twisto demonstrates our commitment to global growth and follows our ‘Coalition of Founders’ model, where we back strong leaders with a shared vision and deep cultural alignment.”

Launched in 2013 by Michal Smida, Twisto Payments provides a smart solution for payments and shopping. The firm claims to be the first to bring BNPL services into the Czech Republic.

Using Twisto Pay, customers are allowed to defer the payment for their online shopping for 14 days, all without having to pay any charges. It also allows its users to break up the total amount owed into installments. This allows a customer to shop and pay in up to three installments without any fees.