MINNEAPOLIS, Feb. 26, 2021 /PRNewswire/ -- Sezzle Inc. (ASX: SZL) (Sezzle or Company) // - Installment payment platform, Sezzle, is pleased to provide its financial results for the year ended 31 December 2020 (FY2020).
"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 US$117.8 million was a record and 65% above our average monthly pace in 2020," stated Sezzle Executive Chairman and CEO Charlie Youakim. "We are also pleased to provide UMS guidance for Sezzle to achieve an annualized run rate UMS of US$2.5 billion by the end of 2021."
UMS, Total Income, and NTM
- 2020 UMS increased 250.8% YoY with each quarter in 2020 representing a new record in performance. 2021 is off to a strong start with UMS of US$117.8 million in January – 65.1% above the average monthly performance in 2020 and the Company's best monthly performance on record.
- Total Income performed similarly to UMS, increasing 272.1% YoY, and as a percentage of UMS, Total Income improved 39bps YoY to 6.9%. Total Income is driven primarily by Merchant Fees, which represented 80.9% of Total Income in 2020, 114bps lower than in 2019.
Top-Rated Buy Now, Pay Later Option
- Sezzle leads the field in consumer approval with a consistent Trustpilot score of 4.8
- 2021 brings increased focus on green and social good initiatives, in line with Sezzle's status as a Public Benefit Corporation - a key market differentiator.
- In 2020, the Company 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.
- During 2020, 16,680 Active Merchants joined the Sezzle platform, with over 60% of the additions occurring in the second half of 2020. January 2021 represented a record month for Active Merchant additions with over 2,500 being onboarded. In 2019, over 70% of Active Merchant additions were led by in-bound inquiry, this rose to over 90% in 2020, signifying the strong momentum of the Sezzle brand with merchants.
Sezzle US Media Contact:
Tel: (651) 403-2184
Email: [email protected]
About Sezzle Inc.
Sezzle is a rapidly growing fintech company on a mission to financially empower the next generation. Sezzle's payment platform increases the purchasing power for 2.4 million Active Consumers by offering interest-free installment plans at online stores and select in-store locations. Sezzle's transparent, inclusive, and seamless payment option allows consumers to take control over the spending, be more responsible, and gain access to financial freedom. When consumers apply, approval is instant, and their credit scores are not impacted, unless the consumer elects to opt-in to a credit building feature, called Sezzle Up.
This increase in purchasing power for consumers leads to increased sales and basket sizes for the more than 29,200 Active Merchants that offer Sezzle.
For more information visit Sezzle.com.