Afterpay Co-Founder Nick Molnar to Exit Block by 2026

Nick Molnar, the co-founder of the buy-now, pay-later service Afterpay, announced he will exit both Afterpay and its U.S. parent company Block by the end of 2026. In a LinkedIn post, Molnar stated his decision is based on a desire to spend more time with his family after more than a decade of building the business.

The departure follows a period of restructuring at Block, which acquired Afterpay in 2021 for approximately $29 billion to expand its installment financing and consumer payments capabilities. CEO Jack Dorsey is currently reshaping operations to prioritize artificial intelligence and streamline the workforce.

This transition comes after sweeping job cuts announced in February that affected Afterpay employees. Block has not yet named a replacement for Molnar.