Fatfish Group (ASX:FFG) - Director & CEO, Kin W Lau
Director & CEO, Kin W Lau
Source: The New Savvy
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  • Fatfish Group’s (FFG) insurance arm Fatberry recorded healthy revenue increases over the September quarter, with $2.78 million in gross sales recorded
  • FFG says the results are significantly up on its January to June revenue results when the insurance business reeled in $1.97 million in total sales
  • During the September quarter, Fatfish also launched its buy now pay later business, PaySlowSlow, with 87 merchants signed in the first two weeks
  • The BNPL product notched up more than $50,000 in transactions during the same period, prompting FFG to expedite PaySlowSlow’s rollout across Southeast Asia
  • Fatfish shares are trading 5.66 per cent in the green at 5.6 cents each at 2:05 pm AEDT

Fatfish Group’s (FFG) insurance arm Fatberry has recorded healthy revenue increases over the September quarter of FY22.

The digital insurance business reeled in $2.78 million worth of gross sales during the three month period.

The result is noticeably up on Fatberry’s January to June revenue results, when the insurance business brought in $1.97 million in total sales.

All up, Fatberry has added $4.76 million worth of gross sales to FFG’s bottom line since the start of the year with over $905,000 brought in during September alone.

Following the growth, Fatfish said on Monday it plans to expand the insurance arm beyond the Malaysian market in the future.

Meanwhile, the September quarter also saw Fatfish launch its own buy now pay later business, PaySlowSlow, with 87 merchants signed on during the first two weeks.

The BNPL product notched up more than $50,000 in transactions during the same period, prompting FFG to expedite PaySlowSlow’s rollout across South-East Asia.

Fatfish launched the PaySlowSlow alongside its Swedish listed subsidiary Abelco Investment Group, which also has a stake in Fatberry.

Shares in Fatfish Group were caught trading 7.55 per cent in the green following today’s update, with share worth 5.7 cents each at 1:23 pm AEDT.



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