Company:Openpay
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| OPY.AX | |
| Industry | Finance |
| Founded | 2013 |
| Defunct | 7 February 2023 |
| Headquarters | Melbourne, Australia |
Area served | Australia |
| Divisions | OpyPay |
| Website | www |
Openpay Group, commonly referred to by its trading name Openpay, was an Australian fintech company that operated in the "Buy now, pay later" field and provided online financial services and post purchase payments. Their core service was designed to allow customers to pay for items purchased using interest-free installments.
History
Openpay was founded by Yaniv Meydan and Richard Broome in 2013.[1] As opposed to similar 'Buy Now, Pay Later' companies such as Afterpay, Openpay has attempted to focus more on cash flow management on larger purchases in areas such as healthcare, automotive and home improvements. Since 2019, it also provides a software as a service (SaaS) product for B2B clients such as Woolworths[2] to offer trade accounts and management.
Openpay previously expanded to both the United Kingdom and the United States, but departed both markets in 2022.[3]
Openpay has gone into receivership on 7 February 2023.[4]
In July 2023, it was announced that the OpyPro B2B SaaS platform had been sold to a related company – OP Fiduciary Pty Ltd – for $10 million. Openpay was officially removed from the ASX on 28 August 2023.[5]
OpyPro Holding Pty Ltd. provides its cloud-based, B2B credit management solution based on the all-in-one trade accounts receivable platform.[6] Major enterprise clients for its solution{{buzzword inline|date=June 2025} d HP.[7]
References
- ↑ Koehn, Emma (16 December 2019). "Openpay falls hard on ASX debut". https://www.smh.com.au/business/small-business/buy-now-pay-later-for-the-dentist-openpay-slides-on-asx-debut-20191216-p53k9a.html.
- ↑ Crozier, Ry. "Woolworths quietly opens its B2B online shopping platform". https://www.itnews.com.au/news/woolworths-quietly-opens-its-b2b-online-shopping-platform-552738.
- ↑ O'Brien, Amy (1 March 2022). "Exclusive: Klarna rival Openpay exits UK". Sifted. https://sifted.eu/articles/klarna-rival-openpay-exits-uk/.
- ↑ "Aussie buy now, pay later company Openpay collapses" (in en). 2023-02-07. https://www.9news.com.au/finance/openpay-buy-now-pay-later-collapses-asx-listed-company/1fd1c0d8-4215-4e64-a9ed-9381e0d3f1a5.
- ↑ Bowes, Michelle (November 28, 2023). "Buy now pay later business Openpay in liquidation following collapse". https://www.news.com.au/finance/business/retail/buy-now-pay-later-business-openpay-in-liquidation-following-collapse/news-story/131bf0122ea230cb889a71538a102114.
- ↑ "Platform Overview | Opypro" (in en). https://opypro.com.au/.
- ↑ McGrath, Nadine (2021-08-24). "Openpay targets lucrative $200 billion B2B space following HP deal" (in en-US). https://stockhead.com.au/tech/openpay-targets-lucrative-200-billion-b2b-space-following-hp-deal/.
External links
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