BNPL operator Limepay signs EB Games, holds pre-IPO capital raising
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White label buy now, pay later (BNPL) operator Limepay has made it official — it’s headed to the ASX, and soon.
The company has appointed Ord Minnett to begin the pre-IPO process following a $6m capital raising in May from high net worth investors.
Limepay also announced it had picked up EB Games, which sought it out as part of the video game retailer’s broader strategy to accelerate online sales growth.
EB Games has over 300 stores across Australia and has seen a 185 per cent increase in ecomerce sales year-to-date.
Using Limepay’s platform, EB Games will launch its own BNPL service later this year, in time for the holiday season.
Limepay executives say they want to help retailers provide BNPL services without redirecting them to a third-party platform such as Afterpay (ASX:APT).