Australian BNPL firm Zip surges on $146.2m financing, promise to pay down debt

Australian BNPL firm Zip surges on $146.2m financing, promise to pay down debt

FILE PHOTO: A logo for the companies Afterpay and Zip is seen in a store window in Sydney, Australia, July 9, 2020. REUTERS/Stephen Coates/File Photo

Shares in buy-now-pay-later firm Zip rose more than 13% on Thursday after it said it had raised A$217 million ($146.19 million) in equity placement, letting the company pay down its corporate debts early.