AP Ventures announces completion of second investment: 20% interest in “Happay” China
AP Ventures Limited, the Australian-based investment company, today announced it has completed its investment into Chinese based buy now, pay later company, “Happay”. APV invested US$10m to acquire a 20% stake in the business.
Technology firm AP Ventures, which is backed by “buy now, pay later” juggernaut Afterpay, has raised $50m from investors, including billionaire Alex Waislitz, to bankroll its first move into the Chinese BNPL sector.
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Waislitz’s TEK has backed the AP Ventures investment vehicle that reportedly intends to invest $50m-$60m in five or six ventures in the next few years. One of its investments is LayAway Travel, a firm that allows travellers to lay buy their trips.