Total
0
Shares
Sezzle (ASX:SZL) - Founders, Charlie Youakim (left) and Paul Paradis (right)
Founders, Charlie Youakim (left) and Paul Paradis (right)
Source: Dynamic Business
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 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
More From The Market Herald

" Spheria (ASX:SEC) announces initial quarterly fully franked dividend of 2.5 cents

Spheria Emerging Companies (SEC) says it will pay shareholders an initial quarterly dividend of 2.5 cents per share for the period ended Septembe…
Damstra (ASX:DTC) - Chairman, Johannes Risseeuw

" Damstra (ASX:DTC) completes $18m TIKS Solutions buy

Damstra (DTC) has completed the acquisition of software-as-a-service (SaaS) business TIKS Solutions.
Pendal Group (ASX:PDL) - CEO and MD, Nick Good

" Pendal Group (ASX:PDL) ends September with increased $139b FUM

Pendal Group (PDL) is releasing its latest quarterly update, revealing it had an increased $139.2 billion worth of funds under management (FUM).
Adveritas (ASX:AV1) - Cofounder and CEO, Matthew Ratty

" Adveritas (ASX:AV1) sees TrafficGuard integrate with Google Cloud Marketplace

Adveritas (AV1) has seen TrafficGuard officially accepted and integrated into the Google Cloud Marketplace.