PayPal President and CEO Dan Schulman told a German business daily, Handelsblatt, that the spending spree the company has been on in over the past few years (five acquisitions in the past 24 months) is not slowing down yet.

“We have a healthy balance sheet and we are ready to put it to work to buy more companies,” Schulman told Handlesblatt this week, adding that the company was prepared to invest up to $3 billion a year on acquisitions geared toward “specific capabilities.”

Some of these specific capabilities include fraud prevention, courtesy of PayPal’s acquisition of Simility for $120 million; merchant payouts thanks to its purchase of Hyperwallet for $400 million; and even AI-powered marketing technology with its pick up of Jetlore this spring for an undisclosed sum.

But PayPal’s biggest buy of 2018 so far is clearly the $2.2 billion in cash spent on Swedish payments startup iZettle, which the company acquired in May. Referred to as the “Square of Europe,” iZettle is the largest acquisition in PayPal’s history and will help put the company’s service in hundreds of thousands of brick and mortar stores, and help PayPal compete with rivals – like Square.

In addition to a busy acquisition pace, PayPal has been making friends and influencing people, as well, of late. The company sold its consumer credit receivables business to Synchrony for $6.9 billion earlier this month. Schulman noted at the time that the move would help the company invest in other areas of the business or fund future acquisitions. PayPal expanded its partnership with Google Pay in May, making PayPal as a payment option throughout the Google ecosystem. Also that month, the company extended its agreement with Visa to speed the adoption of digital and mobile payments in Canada. In April, PayPal teamed up with Yahoo to make PayPal subsidiary Braintree available to online merchants using Yahoo Merchant Solutions and Yahoo Stores platforms.

PayPal demonstrated its Instant Account Creation solution at FinovateEurope 2012. Founded in 1998 and headquartered in San Jose, California, PayPal is a publicly-traded company on the NASDAQ under the ticker symbol “PYPL.” PayPal has a market capitalization of more than $100 billion.

Building on its 14-year strong relationship with PayPal, Synchrony Financial has officially become the exclusive issuer of PayPal credit in the U.S. for the next 20 years. Connecticut-based Synchrony has agreed to buy $7.6 billion in PayPal’s receivables for $6.9 billion.

The sale, which was originally announced in November of 2017, consists of PayPal’s U.S. consumer credit receivables portfolio, totaling $6.8 billion, as well as $0.8 billion in participation interests in receivables held by unaffiliated third parties.

Synchrony has issued PayPal-branded credit cards to consumers since 2004 and the two have expanded that agreement to include the PayPal Extras Mastercard and the PayPal Cashback Mastercard through 2028.

In the press release, Dan Schulman, president and CEO of PayPal said, “Our agreement with Synchrony accomplishes every goal we set out for our asset light strategy. We look forward to working with Synchrony to double down on our innovative consumer credit experiences for our customers and profitably grow the portfolio over time.”

As Schulman alluded to in his comment about the company’s “asset light strategy,” this move frees up liquidity for PayPal, enabling it to use the cash to invest in other areas of its business or perhaps to fuel additional acquisitions. The California-based company has been on a buying spree as of late– having made two acquisitions days apart last month (Hyperwallet followed by Simility), marking PayPal’s fifth acquisition in the past two years for a total of 17.

A familiar face in the alternative banking space, PayPal was founded in 1998. PayPal’s Braintree presented at FinDEVr New York 2016. The company also showcased its Instant Account Creation feature at FinovateFall 2012. PayPal’s market cap sits at $98 billion.