Nick Molnar
Nick Molnar is an Australian entrepreneur who is the co-founder of Afterpay.
Early life and education
While attending Sydney's Moriah College, as a student, Molnar began selling jewellery on eBay, ultimately becoming the top Australia jewellery seller on the site. Molnar persuaded Ice.com, a U.S. online jeweler to let him launch iceonline.com.au. He eventually grew the business to 2 million in annual revenue.He graduated with a Bachelor of Commerce from the University of Sydney.
Afterpay
In 2014, Molnar began working with Anthony Eisen to develop Afterpay, a consumer lending company that would allow consumers to purchase items up to $1000 and pay in four interest-free instalments. Late charges would accrue beginning after a payment is missed, with interest and fees capped at 25% of an item's price. Retailers are charged 4-6% for every transaction.In August 2021 Afterpay and Square, Inc., a digital payments company, announced they had entered into arrangements for Square to acquire Afterpay for 29 billion which was completed on 31 January 2022. Molnar and Eisen received 2.7 billion in Square stock for their Afterpay shares and, post-settlement, they jointly led Afterpay’s merchant and consumer businesses inside Square. Eisen subsequently exited the business; while Molnar became Block's global head of sales.