zipMoney has hired a PayPal executive ahead of its ASX listing

Eugene Tan/Hausmann Communications via Getty Images

Startup finance group zipMoney has has hired a PayPal senior executive, Jonathan Kelly, to be its director of merchant services ahead of its ASX listing.

The fintech disruptor is due to open on the market today in a backdoor listing via junior miner Rubianna Resources after raising $5 million in equity capital.

Kelly was most recently head of retail services at PayPal Australia following his appointment as head of new ventures Asia Pacific for PayPal in Singapore.

Kelly says it’s an exciting time to be in the world of digital payments.

“zipMoney is well placed to gain market share and scale rapidly as they look to displace traditional retail consumer finance incumbents by offering simple, frictionless and responsible credit products to the market,” he says.

The company is using the $5 million raised to aggressively compete in the online/offline “buy now, pay later” market in Australia.

Co-founder Larry Diamond, an ex-Macquarie and Deutsche Bank investment banker, says zipMoney is set to be the real-time credit option of choice in the mobile revolution.

zipMoney is essentially a line of credit which allows you to buy what you want today and pay back over time.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.