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Australian firm Zip acquires Middle Eastern fintech platform Spotii for $20M

Zip, a Sydney-based BNPL fintech platform, has acquired Spotii, a Middle Eastern buy now pay later firm for $20M and eyes expansion into the Middle Eastern region. The financial deal between the two firms includes an additional payment of $15 million to be made to Spotii shareholders if certain performance milestones are achieved. Spotii had expanded its BNPL services to Saudi Arabia last year.

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