Details Emerge On Sezzle’s Upcoming Australian IPO

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Minneapolis fintech startup Sezzle is seeking to pull more funds by publicly listing its securities on the Australian Stock Exchange ASX this July 23.

According to a report in the Australian Financial Review, “Sezzle is seeking to raise $42.9million at $1.20 a share in a deal valuing it at $213.3 million on a market capitalisation basis and $162.8 million in terms of enterprise value, according to terms sent on Tuesday.

Furthermore, Sezzle claimed 3321 active merchants in 12 countries and 269,800 active customers as at March 31 while underlying merchant sales were worth $US28.3 million in the first quarter, which was up from $US1.6 million the same time one year earlier.

The information comes two months after Sezzle raised a 5.6m pre-IPO round (~$17m in total VC) that was led by Chicago-based Continental and Phil Purcell who was formally CEO of Discover Financial Services, Dean Witter, and Morgan Stanley.

Sezzle is an ACH payment platform that aims to increase online sales and etailer basket sizes by offering interest-free installment plans. Consumers pay over time, but our merchant partners are paid upfront, eliminating risk of fraud or non-payment.  The venture was cofounded in 2016 by Charlie Youakim and Paul Paradis, since supported by CTO Killian Brackey and CFO Karen Hartje.

Market competitors Afterpay, Zip Pay, Zip Money and Splitit are all already listed on the ASX.

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