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'Square needs Afterpay', but it won't solve the company's biggest problems

Updated: Sep 28, 2021

August 6, 2021

Square’s latest acquisition might help them find in-roads into new markets, but it doesn’t change the nature of the biggest challenges facing their business.

While the acquisition of Afterpay will see investors net a timely payout, the reality is that Jack Dorsey’s fintech side hustle needs Australia’s biggest buy now, pay later (BNPL) brand more than it needs him.

Square’s roots sit in the small businesses and physical stores,

John Lobb reminded nestegg.

A portfolio manager for Insync Funds Management, Mr. Lobb said that

the company’s acquisition of BNPL titan Afterpay promises to help them expand into two key new verticals: online sales and consumer-facing financial services.

Both appear to be critical to the company’s future, with Square confirming plans to formally integrate Afterpay into both its Seller and Cash App business units months before the acquisition is finalised.

Equity Trustees Limited (“EQT”) (ABN 46 004 031 298), AFSL 240975, is the Responsible Entity for the Insync Global Quality Fund and the Insync Global Capital Aware Fund. EQT is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT). This information has been prepared by Insync Funds Management Pty Ltd (ABN 29 125 092 677, AFSL 322891) (“Insync”), to provide you with general information only. In preparing this information, we did not take into account the investment objectives, financial situation or particular needs of any particular person. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. Neither Insync, EQT nor any of its related parties, their employees or directors, provide and warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it. Past performance should not be taken as an indicator of future performance. You should obtain a copy of the Product Disclosure Statement before making a decision about whether to invest in this product.
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