Pinsent Masons advises EmpatKali founders in deal that signals Asia expansion for Afterpay

Afterpay, the leading buy-now, pay-later service provider in Australia, will acquire Singapore-based business EmpatKali, a payment solutions provider operating in Indonesia. The transaction involves the sale of the company led by its founders together with minority shareholders. As Afterpay indicated in its FY20 results announcement, the acquisition is a first step in exploring further opportunities in select Asian markets. 

The Pinsent Masons team acting on the transaction was led by partner Brian Scott and includes senior associate Lucy Carter, lawyer Ananya Mittra and graduate lawyer Abigail Gedge. Financial advisory services were provided by Stephen Davies from Devo Consigliare Pty Ltd.

Commenting on successful execution of the deal, EmpatKali Founder Jamie Camidge said: "The Pinsent Masons team (Singapore and Australia), in partnership with Stephen Davies (advisor), did an incredible job representing the founders through the Afterpay acquisition. We couldn't have asked for a more professional and responsive group to represent our interest and that of our shareholders to get this deal across the line."

Corporate partner Brian Scott added: “It’s been a pleasure to help our clients’ business into the fast growing Afterpay family, where plans for further growth and investment can be fully realised. I lived and worked in Jakarta for 8 years and it was fantastic at this time, albeit virtually, to connect with an ambitious business there. The Pinsent Masons team brings together a strong understanding of the start-up environment, a notable tech focus for the region’s vibrant digital economies and a very strong bench of deal experience in Southeast Asia.”