ASX-listed Buy-now-pay-later (BNPL) fintech Openpay has been placed in the hands of receivers after it failed to bank working capital from its key funder. The payments platform has been shut down, effectively sealing the company’s fate. The collapse comes a week after the company’s quarterly results on January 31, which flagged delays in receiving the… Read more »
Active plans up 235% on 12 months earlier Active customers up 145% on a year ago Active merchants have grown by 48% relative Total Transaction Value in July 2020 was $24.0m, up 114% Revenue was $2.1m v $1.2m in July 2019, up 73% Buy now, pay later fintech Openpay Group Ltd has reported record sales… Read more »
Melbourne buy-now-pay-later startup Openpay’s stellar week continued on Thursday when the company raised an additional A$33.77 million through an oversubscribed local institutional placement. The raise comes in a week where Managing Director and CEO Michael Eidel announced the fintech had secured a UK funding facility for £25 million (A$46 million) for its British business, adding… Read more »
Hello and welcome to Thursday What a time to be alive! 1. Fintech explosion A big hello to anyone who bought BNPL Openpay and Zip Co on Monday! Now pubs are reopening, you’re buying the next round. Zip shares just nearly 40% on Tuesday on news that that it was buying US BNPL QuadPay… Read more »
ASX-listed Openpay has signed a deal with Woolworths that takes the fintech into the B2B sector. Woolworths will launch Openpay for Business, which allows companies to manage trade accounts end-to-end, including applications, credit checks, approvals and account management in the one system. The move is a shift way for Openpay from buy-now-pay-later (BNPL) services… Read more »
Melbourne buy now, pay later (BNPL) fintech Openpay (ASX: OPY) became the last major startup listing for 2019, although initial trading wasn’t as auspicious as MoneyMe’s debut last week and Tyro in early December. Openpay raised $50 million issue at $1.60 per share for a market capitalisation of $150 million. Demand for the IPO exceeding… Read more »
Melbourne startup Openpay has dipped into other verticals and expanded the payment solution into the automotive, homeware and healthcare sectors.
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