President and CEO of PayPal Holdings Inc, Dan Schulman, said in Monday’s edition of the Handelsblatt, that the company is looking to invest in more companies.
“We have a healthy balance sheet and we are ready to put it to work to buy more companies,” Schulman said in an interview to Germany’s Handelsblatt.
This comes after the U.S. online payment company’s recent takeover of iZettle, a Swedish fintech startup, for $2.2 billion in its biggest deal ever.
Paypal is ready to spend $1-$3 billion a year on companies that enable it to acquire specific skills, Schulman added.
“I would not rule it out that we can tackle a bigger deal if it fits in strategically and financially. However, we are not dependent on it strategically”, the German-language newspaper quoted Schulman as saying in extracts from the interview.
Schulman added that PayPal was willing to work as a neutral platform with other financial services providers and banks.
Since separating from online marketplace eBay in 2015, PayPal has shifted from mostly processing online transactions for its parent company to offering a suite of digital payment services.