TSL Express Daily News

CHICAGO--(BUSINESS WIRE)--Victory Park Capital (“VPC”), a leading global alternative investment firm specializing in private credit, today announced the closing of a new warehouse facility of just over US$283 million with Zip Co Limited (“Zip”), a digital financial services company offering innovative, people-centered products. The facility, arranged in partnership with ATLAS SP Partners and VPC, will support the continued growth of Zip’s U.S. receivables. VPC is providing the second-lien mezzanine tranche as part of the transaction.

The two-year facility will finance Zip’s U.S. Buy Now, Pay Later (BNPL) receivables, increasing the company’s funding capacity and scalability. The transaction highlights the ongoing growth of VPC’s lending platform. Alongside its core senior secured asset-backed finance strategy, VPC now has the flexibility to execute lower-cost senior secured, forward flow and mezzanine transactions.

“VPC is proud to build on our partnership with Zip as the company continues its trajectory of transformative growth and prioritizes expansion in the U.S. market,” said Jason Brown, senior partner at VPC. “Through innovative and flexible payment solutions, Zip is helping unlock ease and stability in the everyday financial lives of consumers and businesses."

“We’re pleased to extend our partnership with VPC, as this facility will further enhance Zip’s U.S. capital management strategy,” said Joe Heck, Zip US CEO. “This funding warehouse will position Zip to support business expansion, maintain strong balance sheet discipline and capitalize on the available growth opportunity in the U.S. market.”

This is the fourth transaction between Zip and VPC, representing another extension of a long-standing relationship that began in 2015 with an A$108 million asset-backed warehouse facility that later grew to A$200 million. In 2020, VPC and Zip closed an A$100 million debt facility to fund receivables and support the Zip Business platform; in 2024, the two companies closed a refinancing agreement for a US$225 million debt facility to support the growth of Zip’s US receivables.

About Victory Park Capital Advisors, LLC
Victory Park Capital Advisors, LLC (“VPC” or the “Firm”) is a global alternative asset manager that specializes in private asset-backed credit. In addition, the Firm offers comprehensive structured financing and capital markets solutions through its affiliate platform, Triumph Capital Markets. The Firm was founded in 2007 and is headquartered in Chicago. In 2024, VPC became a majority-owned affiliate of Janus Henderson Group. The Firm leverages the broader resources of Janus Henderson’s 2,000+ employees across offices in 25 cities worldwide. VPC is a Registered Investment Advisor with the SEC*. For more information, please visit www.victoryparkcapital.com.

About Zip
Zip Co Limited (ASX: ZIP) is a digital financial services company, offering innovative and people-centred products. Operating in two core markets – Australia and New Zealand (ANZ) and the United States (US), Zip offers access to point-of-sale credit and digital payment services, connecting millions of customers with its global network of tens of thousands of merchants.

Founded in Australia in 2013, Zip provides fair, flexible and transparent payment options, helping customers to take control of their financial future and helping merchants to grow their businesses.

For more information, visit: www.zip.co. US loans through the Zip app and Zip Checkout are originated by WebBank.

*Registration with the SEC does not imply a certain level of skill or training.

Contacts

Media Contacts

Victory Park Capital
Jordan Niezelski, Edelman Smithfield
jordan.niezelski@edelmansmithfield.com

Zip
For media inquiries, email press@zip.co
For general investor inquiries, email vivienne.lee@zip.co