Australian buy now, pay later art company with 'potential to be $1 billion business' on brink of collapse

company providing buy now, pay later services to purchase expensive artworks has paused operations after running out of money – but its founder and CEO claims it could still be a billion-dollar, raised $US10 million and facilitated the purchase of more than 20,000 works of art in 50 countries since it was founded in Australia in 2015 by Paul Becker.

"Art Money has run out of operating capital and I've let down a lot of people who believed in it, and in me," Becker wrote in a statement on Art Money's website late last week. Becker said all galleries, artists and other sellers have or shortly will be paid for art purchased through the business.He said Art Money was still about 18 months away from profitability and needed new investors to survive.

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