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Sydney-based payments company Fat Zebra has made its third acquisition in 14 months with the purchase of SecurePay from Australia Post for an undisclosed sum, pumping up its merchant relationships in a move that will almost double its business customer numbers.
Five V Capital-backed Fat Zebra declined to comment on whether the acquisition price was more or less than the $48.2 million paid by Australia Post for the business in 2010.
Since then SecurePay's customer numbers have grown from 19,000 to more than 35,000, which is only just shy of the 38,000 merchants and platforms that use Fat Zebra’s modern payment infrastructure with 250 million transactions supported annually.
Fat Zebra founder and CEO Pred Dragila describes the strategic deal as "more than an acquisition", reflecting the company's commitment to growth, innovation, and delivering value to Australian businesses.
"SecurePay’s long-standing merchant relationships are a valuable part of the ecosystem, and by combining them with Fat Zebra’s modern infrastructure, we’re delivering a more powerful platform for Australian businesses," says Dragila.
"With SecurePay, Pin Payments and Adatree now part of the Fat Zebra family, we’ve built a unified organisation that serves businesses at every stage, from startups and SME to enterprise, connected directly or via our partner ecosystem."
The news follows Fat Zebra's acquisition of SME embedded payments platform Pin Payments late last year and its purchase of customer data portability group Adatree in February 2024.
Fat Zebra is working closely with Australia Post to ensure a smooth and seamless transition for all SecurePay merchants, claiming there will be no disruption to service.
"Our number one priority is continuity and confidence. SecurePay customers can expect a high-quality service backed by Fat Zebra’s speed, scalability, and stability," says the Fat Zebra founder.
"We’re building the future of payments in Australia, and this acquisition strengthens our position as the leading local domestic payments provider.
"We’re building a homegrown payments powerhouse, with support and staff based in Australia, that’s agile, reliable, and focused on supporting merchants to scale and thrive in a digital-first world."
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