Sezzle takes fight to Afterpay, Klarna with ASX debut

US ‘buy now, pay later’ venture Sezzle made its Australian Securities Exchange (ASX) debut yesterday and laid claim to being “a formidable opponent for the likes of Afterpay and Klarna, particularly in the North American market”.

The company, which has thus far pulled in more than 5,000 active retailers and over 429,000 customers, says that the move will give it “the fuel required to scale our business, move into new verticals, invest in technology, and connect in a more meaningful way with our shoppers”.

The offering of its CHESS Depositary Interests was priced at A$1.22 per share and closed the first day of trading up 80% at A$2.20, representing a market value of approximately US$270 million. Sezzle raised $30 million in the IPO, with none of its investors selling down in the heavily oversubscribed float.

"Our decision to list on the ASX is a reflection of the Australian investors' familiarity with buy now, pay later payment solutions. The Australian market is several years ahead of North America in terms of providing a more flexible way for consumers to pay over time," says Sezzle CEO and Co-founder Charlie Youakim.

"We have seen first hand the demand for our payment platform in the US and Canada and are excited to continue to lead the industry in offering the most consumer-friendly solution that financially empowers young people.”