The investment will enable Zip to launch a full suite of Zip Business payment and credit products

Zip Co Limited, a leading player in the digital retail finance and payments industry, announced today it has closed a A$100 million debt funding agreement with Victory Park Capital (“VPC”), a leading global alternative investment firm. Zip offers point-of-sale credit and digital payment services to the retail, home, health, automotive and travel industries. This is Zip’s second transaction with VPC, having closed a A$108 million asset-backed warehouse facility with the firm in 2015 that later grew to A$200 million, making VPC one of Zip’s earliest partners.

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The debt facility from VPC will fund receivables and support the company’s recently launched Zip Business platform designed to support the small business community, a segment that has been underserved by traditional lenders in recent years. Zip Business technology is based on a proven credit decisioning platform, previously known as SpotCap, that has originated over $200 million in credit to small businesses in Australia and New Zealand since 2015. The company recently announced a partnership with eBay Australia, where its 40,000 Australian small business merchants will have the opportunity to access working capital through Zip’s platform.

“We’re delighted to work with VPC again to support the launch of a new extension to our business,” said Peter Gray, co-founder and COO of Zip. “This comes at a time when Australia’s small businesses are confronting the extreme challenge of COVID-19, which has created enormous pressure on cashflow and the business environment. VPC’s investment is part of our commitment to supporting the recovery and growth of the small business community in Australia and other markets where we operate.”

“It’s been a pleasure to partner with Zip as it has grown from a small fintech company to a leading player in the global payments ecosystem,” said Jason Brown, partner at VPC. “We look forward to continuing our partnership with Zip and seeing the success that comes with the launch of Zip Business.”

About Zip

ASX-listed Zip Co Limited (Z1P: ASX) or (“Zip”) is a leading player in the digital retail finance and payments industry. The company offers point-of-sale credit and digital payment services to the retail, home, health, automotive and travel industries. Zip has operations across Australia, New Zealand and the United Kingdom, with associates in the USA and South Africa. Zip also owns Pocketbook, a leading personal financial management tool and SME lending provider Spotcap. The company is focused on offering transparent, responsible and fairly priced consumer and SME products. Zip’s platform is entirely digital and leverages big data in its proprietary fraud and credit-decisioning technology to deliver real-time responses. Zip is managed by a team with over 100 years’ experience in retail finance and payments and is a licensed and regulated credit provider.

For more information, visit: www.zip.co.

About Victory Park Capital

Victory Park Capital invests in emerging and established businesses across various industries in the U.S. and abroad, who are often unable to access traditional sources of capital. The firm’s differentiated offerings leverage an extensive network of industry relationships, disciplined deal origination, creative financing capabilities, broad credit structuring and special situations expertise. The firm was founded in 2007 and is headquartered in Chicago with additional resources in New York, Los Angeles and San Francisco. VPC is privately held and a Registered Investment Advisor with the SEC. For more information, please visit www.victoryparkcapital.com.

Zip Matthew Abbott Head of Corporate Affairs matthew.abbott@zip.co 0402 543 128

Victory Park Capital Jordan Niezelski, Edelman Jordan.Niezelski@edelman.com 860.833.2947

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