Zip is planning to sell/end operations in 10 of the 14 markets it operates in, and is working with boutique advisory firms to sell parts of the business by the end of June 2023. 

The divestments are focused in India, the Philippines, Turkey, the Czech Republic, Poland, and South Africa, alongside its previously announced decision to end operations in the UK , Singapore , Mexico, and the Middle East. Zip will continue to operate in its home county, Australia, as well as the US, New Zealand, and Canada. Overall, the divestments are a part of Zip’s plan to achieve positive cash flow by the first half of 2024, with the company having abandoned its plans to acquire rival firm Sezzle in July 2022 . 

Analyst QuickTake : The decision to continue operations in Zip’s core markets and achieve positive cash flow by the first half of 2024 comes after Zip’s Q2 FY2023 results , which saw it delivering positive cash EBITDA in its US operations in November and December 2022, alongside the onboarding of new merchants in the Australian market.