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Payright (ASX:PYR) sees continued growth in FY21 Q2
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  • Recently listed buy now, pay later company Payright (PYR) shares finished in the green today after reporting strong growth in FY21's second quarter
  • The company says its growth has continued to increase in gross merchandise value (GMV) as well as total customer number across Australia and New Zealand
  • GMV for the December quarter was $20.6 million, a 28 per cent increase against the September quarter
  • Additionally, total customers grew to 42,300, a 13 per cent increase, over the September quarter
  • On market close for the weekend, Payright is up 11.8 per cent and is trading at 95 cents per share

Payright (PYR) shares finished in the green today after reporting strong growth in the second quarter for the 2021 financial year.

The Australian-based buy now, pay later company says its growth has continued to increase in gross merchandise value (GMV) and total customer numbers across Australia and New Zealand.

GMV for the December quarter was $20.6 million, a 28 per cent increase against the September quarter. Overall, the December quarter exceeded the June quarter by a staggering 84 per cent.

Total customers grew 42,300, a 13 per cent increase against the September quarter and a pleasing 25 per cent against the June quarter equivalent.

The company's strong momentum has led to 217 merchant agreements in the September quarter and a further 256 in the December quarter.

Payright recently raised $18.5 million through its initial public offering, to list on the ASX. Funds from this will be spent to extend the company's reach in Australia and New Zealand.

"In addition to the strong momentum across our target markets, the progress we
are making in New Zealand is clear evidence of the significant opportunity for Payright to assist businesses which are seeking a consistent solution across both geographies," Co-CEO Piers Redward said.

"We believe this will help to further strengthen our position in Australia, particularly in relation to merchants which operate across both countries," he added.

On market close for the weekend, Payright is up 11.8 per cent and is trading at 95 cents per share.

PYR by the numbers
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