Get to know the man behind the Afterpay brand
Co-founder of Afterpay Nick Molnar shares his entrepreneurial journey, favourite gadgets and his hacks for success in business.
- November 2019
Nick Molnar, 29, is the Co-Founder and Chief Revenue Officer of Australian fintech company Afterpay. Molnar mostly works between the company’s New York and San Francisco offices. He lets us in on work, play and everything in between.
How did you get where you are today?
I always had an entrepreneurial spirit. In my teens I convinced my dad to jump on a plane to Vegas to talk a US jewellery brand into letting me sell their product in Australia. It became the most successful jewellery brand on Australian eBay. From there I began mulling over an idea for a business where a customer can take home a product today and pay for it in instalments. My neighbour Ant Eisen and I launched Afterpay together in 2014.
How exactly does Afterpay work?
Afterpay allows customers to pay for products and services (including Jetstar flights) in interest-free, fortnightly instalments. It can be used both for online and in-store purchases. Afterpay pays the retailers outright, so if a customer defaults on a payment they are not able to use the platform again until their payments are up to date.
How do you maintain boundaries between work and personal time?
Given we are a global company there is always someone online I could be slacking with so I have to be mindful about putting the phone or laptop down. Breakfast with my daughter and wife is a time to connect with the most important people in my life.
What are the top three gadgets you can’t live without?
My iPhone, Bose noise-cancelling headphones and Apple Watch.
What are the workplace values of Afterpay?
We’re a family at Afterpay, so working collectively is how we succeed; we have open-plan offices with lots of natural light. We’re unashamedly customer-centric and we only settle for extraordinary.
What was the last thing you bought with Afterpay?
A shirt from The Iconic opens in new window.
Can you share some of your top success hacks?
Look at failure as a way to learn. Don’t take no for an answer – you have to be relentless, especially as an entrepreneur. And back yourself. If you don’t believe in yourself or your idea, no one else will.
And your top three tips for aspiring entrepreneurs?
Don’t think you have to get a ‘real’ job straight out of uni. If I could go back I’d have charged on with being an entrepreneur from day one. Keep devices out of meetings - it’s a way to show respect to everyone in the team by giving your undivided attention. And finally, enjoy the ride and have fun among the chaos but stay authentic and humble.
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