Zip Co. expects “significant” capital inflows from asset sales as it prepares to exit most of its markets, unwinding a years-long expansion after a slump in the once red-hot “buy now, pay later” industry.
The Australian company is trying to win back investors after a 95% stock slump over the past two years by selling or ending operations in 10 of 14 markets around the world. The firm, like many peers, is struggling to reach profitability amid intense competition and a slowdown in online spending in the aftermath of the pandemic.
