Afterpay Due Diligence

Run due diligence on Afterpay: check compliance and get alerts when suppliers change.

Australia · www.afterpay.com · 43 vendors

Afterpay is an Australian financial technology company that provides a "buy now, pay later" (BNPL) service. It enables customers to make purchases and repay them in four interest-free installments over six weeks. The company generates revenue by charging fees to merchants for offering its payment service.

Resilience scores

Digital Sovereignty: 81
Digital Resilience: 9
Financial Resilience: 6

Technology vendors

Docker, Inc. — Technology — United States
Snap Inc. — Technology — United States
Sonatype — Cybersecurity — United States
and 41 more

Services catalogue

3 services in catalogue across 3 categories; runs on 43 sub-vendors.

Afterpay
Payment Processing
Sub-processor

Insights

Last updated 2026-08-14 · revision 2

43 direct vendors, 280 subvendors

Direct vendors by controlling owner country (sample)

Japan: 1
Israel: 1
China: 1

Subvendors by controlling owner country (sample)

United States: 197
Italy: 1
Israel: 1

Compliance

14 in-scope frameworks identified; showing 3.

Financials

Three-year financials

2021: revenue A$924M, EBIT A$-156M, equity A$2.72B
2020: revenue A$519M, equity A$1.56B
2019: revenue A$264M, equity A$260M

Financial Resilience Score: 6/10

Afterpay demonstrated exceptional top-line growth (roughly doubling revenue each year from FY19 to FY21) and built significant scale with 16.2 million active customers and 98,200 merchants by FY21. Its balance sheet was bolstered by substantial capital raisings, including a A$1.05bn placement in mid-2020, and it had access to warehouse funding facilities from Citi, Goldman Sachs and others. However, the company never achieved GAAP profitability as a standalone entity, posting a net loss of ~A$159m in FY21 with widening losses due to heavy US expansion investment, marketing and share-based payments. Unit economics were thin (~2% net transaction margin on GMV), and credit losses rose materially as the US book scaled. The company faced increasing regulatory tightening across Australia, UK and US markets, plus intense competition from Klarna, Affirm, PayPal Pay in 4, Apple Pay Later and Zip. Ultimately, the acquisition by Block, Inc. in January 2022 (originally announced at ~A$39bn, closing at ~US$13.8-14bn) removed standalone funding risk and provided a deep-pocketed parent, materially strengthening the financial resilience profile going forward.

Key strengths: Revenue growth of ~75-100% annually through FY21, Scale of 16.2M active customers and 98,200 merchants by FY21, Strong equity base bolstered by A$1.05bn placement in 2020, Access to warehouse funding from Citi, Goldman Sachs and others, Acquired by Block, Inc. providing deep-pocketed parent, Largest pure-play BNPL by GMV outside China, Historically light regulatory footprint (Pay-in-4 outside consumer credit laws)

Risk factors: Persistent net losses; never achieved GAAP profitability standalone, Thin unit economics (~2% net transaction margin on GMV), Rising credit losses as US book grew, Regulatory tightening in Australia (ASIC), UK (FCA), US (CFPB), Intense competition from Klarna, Affirm, PayPal, Apple Pay Later, Zip, Funding cost sensitivity to rising interest rates, Post-acquisition loss of standalone financial transparency

Revenue by geography

North America: 46%
Australia & New Zealand: 46%
UK / Europe: 8%

Revenue by product/service

Merchant fees: 87%
Late fees from consumers: 12%
Other (Money app, partnerships): 1%

Signed-in users can see whether their own company is exposed to this vendor's disruption, plus the full sub-vendor list and country breakdowns, every in-scope compliance framework plus gaps and next steps, and alerts when any of it changes.

View the full interactive report