Quadpay, the Buy Now Pay Later innovator, recently announced that it has acquired Urge Holdings.
The Sydney-based technology firm Urge Holdings is known for the fashion search engine The Urge and ‘Shazam for Fashion’ app known as Shnap.
Reportedly, the deal has been done for approximately US $ 6.1 million.
As a part of this collaboration, Urge’s technology will be implemented into Quadpay’s interest-free installment payment platform.
This will enable millions of customers to shop apparels by taking photographs or screenshots and then automatically finding retailers for the purchase as well as price comparisons.
Moreover, Quadpay’s network of thousands of merchant partners will now have more personalised promotions to consumers as a means of acquiring new business and driving increased sales.
“The Urge acquisition represents a significant milestone in our mission to create the most innovative and intuitive shopping experience so that our customers can shop for exactly what they need for the best price,” said Quadpay Co-CEO Brad Lindenberg.
Furthermore, the Urge Holdings Co-founders will join Quadpay and work on product innovations and scaling their technology.
Quadpay expects the new technology to be fully integrated later this year.