Afterpay
Australian BNPL pioneer whose "pay in four" grew so large that Block bought the company for $29 billion.
Founded in 2014 in Sydney by Nick Molnar and Anthony Eisen. The model was stripped down: split the purchase into four interest-free installments over six weeks. Revenue comes from the merchant's fee plus late fees — and from the fact that people buy more when the bill feels smaller. No traditional credit check.
It grew quickly in Australia and the US. In 2021 Block (then Square) announced an acquisition worth around $29 billion, completed in early 2022 — the largest corporate takeover in Australian history. It trades as Clearpay in parts of Europe, and competes with Affirm and Klarna.