Consumer lender Zip drops global plans

Zip is working with boutique advisory firms to sell assets in the various international markets, a process set to be completed by the end of June, Diamond said. — Bloomberg

SYDNEY: 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 (BNPL) 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.