South African fintech startup Payflex has secured investment from Zip Co Limited, an Australian-listed multinational.

Payflex is a buy-now pay-later (BNPL) player. Paul Behrmann, Payflex CEO and founder, says the investment and support by Zip Co is a vote of confidence in local fintech innovation and the market opportunities inherent in South Africa.

“Although Zip was launched in Australia, it has expanded into the USA, Britain and New Zealand. With a leader in the BNPL space ...