Co-founders Nick Molnar and Anthony Eisen launched Clearpay just over five years ago as an interest-free, buy-now-pay-later alternative that’s more in line with the needs and spending patterns of modern shoppers.
Customers pay in four instalments, and in most cases, the first instalment is completed at the time of purchase. The remaining three instalments are due every two weeks, and customers get a reminder when their next payment is due.
Rather, it’s a budgeting tool that allows customers to spread out the cost of their purchase across a series of more digestible payments. It gives customers the flexibility to spend their own money while ensuring they’re never spending more than the actual price of the item they’re buying. Because customers are only charged if they miss a payment, they are incentivised to stay organised and accountable.
In 2015, Clearpay launched in Australia
In 2016, Clearpay debuted on the Australian public market, and today is a top 20 ASX company, based on market valuation
In 2017, Clearpay hit 1 million customers and over 7,200 merchant partners as they launched in New Zealand
In 2018, Clearpay launched in the US market. In 2019, Clearpay launched in the UK market, with the Clearpay name
In May 2020, Clearpay hit 5 million US customers In June 2020, Clearpay (known as Clearpay in the UK) hit 1 million UK customers
In August 2020, Clearpay launched into Canada; and announced their expansion into Southern Europe in partnership with Pagantis
Clearpay offers customers a responsible way to budget their spending, and they can do so without having to worry about hidden feeds, interest or credit checks.
Clearpay’s global mission is to empower a more responsible economy in which everyone wins. To keep us focused on this mission, here are our guiding principles:
Expand globally to deepen retailer partnerships. Increase focus on SMB acceptance in newer markets. Utilise brand and innovation to drive customer acceptance and retention.
Maintain focus in every aspect of our performance. Accelerate investment in the global addressable market opportunity.