Buy now pay later provider Zip Co will buy the outstanding shares in two overseas BNPL companies in which it already has investments – Twisto and Spotii.

Twisto was founded in 2013 and its core markets are Poland and the Czech Republic. Zip will pay €89 million for full ownership of the business, which has a European Payment Institution licence. This will give Zip access to 27 EU countries.

Zip will pay US$16 million for full ownership of Spotii, which was founded in 2020 and is based in the United Arab Emirates. Zip said in a statement that the acquisition would make it a leading player in the Middle East.

Zip said it has adopted a low-risk approach to its acquisitions – initially taking minority holdings and spending time reviewing “cultural fit and management alignment” and testing the business plan before committing further. The two companies are integrated into ZIP’s global merchant interface.

The acquisitions, to be completed later this year, will be funded with either cash or Zip shares.