Victory Park Capital, a global alternative investment firm, has announced the closing of a new warehouse facility of just over $283m with Zip, a digital financial services provider specialising in Buy Now, Pay Later solutions.
The newly announced product is a two-year warehouse facility that will finance Zip’s US BNPL receivables. The transaction was arranged in partnership with ATLAS SP Partners and Victory Park Capital, with VPC providing the second-lien mezzanine tranche.
The transaction represents the fourth deal between Zip and Victory Park Capital, further extending a long-standing partnership that dates back to 2015. That initial collaboration involved an A$108m asset-backed warehouse facility, which later expanded to A$200m. Subsequent transactions included an A$100m debt facility in 2020 to support Zip Business and a $225m US receivables refinancing completed in 2024.
Victory Park Capital senior partner Jason Brown said, “VPC is proud to build on our partnership with Zip as the company continues its trajectory of transformative growth and prioritizes expansion in the U.S. market. Through innovative and flexible payment solutions, Zip is helping unlock ease and stability in the everyday financial lives of consumers and businesses.”
Zip US CEO Joe Heck said, “We’re pleased to extend our partnership with VPC, as this facility will further enhance Zip’s U.S. capital management strategy. This funding warehouse will position Zip to support business expansion, maintain strong balance sheet discipline and capitalize on the available growth opportunity in the U.S. market.”
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