The founders of buy-now-pay-later company Afterpay are selling $250 million worth of shares, in a bid to raise about a billion dollars to help it fund growth into more countries.
In total the owners are selling four million shares so it can expand further into the United States and enter Canada for the first time.
Despite the selling, both founders still have considerable equity in the company totaling about 18 million shares each – worth $1.2 billion apiece.
Afterpay’s share price over the June quarter increased by 224 per cent, now trading at about $68.
