Sezzle (ASX:SZL) - Founders, Charlie Youakim (left) and Paul Paradis (right)
Founders, Charlie Youakim (left) and Paul Paradis (right)
Source: Dynamic Business
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  • Afterpay rival, Sezzle (SZL) has delivered record growth in April, despite the coronavirus pandemic
  • In April, Sezzle reported record monthly underlying merchant sales of US$57.9 million, which is a 40 per cent increase in the average monthly sales
  • The buy now, pay later businesses underlying merchant sales for the first-quarter sizzled up 321 per cent to US$119.4 million
  • It also added 1100 active customers this month, which is also a new record for the company
  • Sezzle is up 14.3 per cent on the market this morning and is trading for $2.08 per share

Afterpay rival, Sezzle (SZL) has delivered record growth in April, despite the coronavirus pandemic.

The company has reported a strong start to the second quarter of 2020.

In April, Sezzle reported record monthly underlying merchant sales of US$57.9 million. This is a 40 per cent increase in the average monthly sales, compared to the first quarter.

It also added 1100 active customers this month, which is also a new record for the company.

The buy now, pay later businesses underlying merchant sales for the first-quarter sizzled up 321 per cent to US$119.4 million, compared to this time last year.

Sezzle said its cash liquidity position, as of March 31, was $US36.6 million, while its total debt was $US25.9 million.

Employees

All of Sezzle’s employees are working from home and has suspended all business travel. Employees also get unlimited sick time for anyone experiencing COVID-19 symptoms.

Sezzle is up 14.3 per cent on the market this morning and is trading for $2.08 per share at 11:50 am AEST.

SZL by the numbers
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