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Sandra Halliday Published
June 29, 2025
BNPL giant Clearpay is set to exit its EU operations, although its business in the UK will continue to operate, a report said on Thursday.
The company’s exit from France, Italy and Spain could mean all European staff are laid off, City AM reported, saying that Clearpay had confirmed the closure.
The move comes amid “tough economic trading conditions” in the EU with the newspaper quoting a letter to customers that it had seen.
The wind-down of its operations is starting this week after “a period of consultation in the region”.
It will stop taking on new customers from next Monday and the EU business will close from 25 August.
The company didn’t comment when asked whether all jobs in the EU would be lost.
But the newspaper said its UK business is unaffected and its North America, Australia and New Zealand ops — under the Afterpay name — will also continue as usual.
Clearpay only entered the EU market in 2025 via the purchase of local peer Pagantis. At the time it spoke of a strong fashion and beauty market, a large millennial population and an addressable e-commerce market of more than €150 billion.