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The Silicon Review Asia

Australia’s Afterpay will acquire EmpatKali to expand its presence in Southeast Asia

Australia’s Afterpay will acquire EmpatKali to expand its presence in Southeast Asia

Afterpay, the Australian fintech firm recently made an announcement regarding its plan to expand its services to at least four continents. Asia is one of the planned continents, and Afterpay is looking forward to capitalize on the sudden shopping surge due to Covid-19. As the first step in the plan, the company wants to involve in the acquisition of EmpatKali, a buy-now-pay-later service company. EmpatKali is a Singapore-based company focusing on the Indonesian market. The company was founded in 2018, and it gives its users an installment-based solution for both offline and online transactions. Anthony Eisen, CEO of Afterpay, stated that EmpatKali has an established presence in the Indonesian market, and it has capitalized on the opportunity in early-stage.

 A recent report from 2019 e-Conomy SEA suggests that the internet economy in Indonesia has quadrupled in sized when compared to the 2015 report. Furthermore, the report mentioned that Indonesia's internet economy is expected to grow by $130 billion by 2025. In the previous year, ecommerce had emerged as one of the fastest-growing sectors in Southeast Asia with a $38 billion valuation. Afterpay's unprecedented growth has helped it to make its way into new global regions

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