Sezzle sees sharp rise in customer and merchant numbers
Buy now, pay later venture Sezzle has reported its fiscal 2020 results.
The company saw its underlying merchant sales (UMS) total $1 billion, a 250% improvement on last year’s result.
Total income also increased 272% to $74.3 million, with 80.9% represented by merchant fees.
Active merchants reached 26.7K as of 31st December, representing YoY increases of 166.6%.
Sezzle added over 1.3 million active consumers, with 4Q20 representing a record in quarterly growth with over 438,000 additions. Another 126,000 active consumers were added in January 2021.
It remains in the red, however. The PayTech reported an after-tax loss of $32 million for the full-year, after it booked a $13 million loss in 2019.
"We are excited about the momentum in our business reflected in the velocity of signups for both consumers and merchants. 2021 is off to a good start, as January's UMS of $117.8 million was a record and 65% above our average monthly pace in 2020," says Sezzle Executive Chairman and CEO Charlie Youakim.
"We are also pleased to provide UMS guidance for Sezzle to achieve an annualised run rate UMS of $2.5 billion by the end of 2021."
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