Xero to pay up to A$80m for factoring company Waddle

Tue, 25 Aug 2020

Xero is buying invoice financing business Waddle for up to A$80 million, depending on revenue and product development milestones. The upfront payment for Waddle, which was founded in Sydney in 2014, is A$31 million and Xero said the cloud-based lending business aligns with its strategy of growing a small business platform and addresses critical small business finance needs. "Waddle's best-in-class cloud-lending platform, combined with small businesses' invoice data, will enable the delivery of tailored invoice financing solutions," Xero s...

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