Sezzle Reports Record Performance for November and Black Friday/Cyber Monday Weekend
Defined as a consumer or merchant that has purchased through Sezzle in the last 12 months.
MINNEAPOLIS, Dec. 3, 2020 /PRNewswire/ -- Sezzle Inc. (ASX:SZL) (Sezzle or Company) // Installment payment platform, Sezzle, is pleased to provide key performance metrics for the month of November and the four days of Black Friday/Cyber Monday (BFCM) weekend.
"We set new records over the month of November and the BFCM weekend, with UMS reaching a run-rate of US$1.36 billion (188.5% YoY growth), Active Consumers growing to over 2 million (151.5% YoY growth), and Active Merchants now exceeding over 24,800 (164.5% YoY growth)," stated Sezzle's Executive Chairman and CEO Charlie Youakim. "Our November UMS run-rate of US$1.36 billion is well ahead of our previous guidance of exceeding a UMS run-rate of US$1.0 billion by the end of 2020."
Select Metrics for November
|
Month Ended 30 Nov 2020 |
YoY |
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|
Key Metrics (unaudited) |
(A$ in M's)¹ |
(US$ in M's) |
change |
|
Underlying Merchant Sales (UMS) |
$153.9 |
$113.0 |
188.5% |
|
Annualized UMS |
$1,846.7 |
$1,355.9 |
188.5% |
|
Active Consumers² |
2,071,133 |
151.5% |
|
|
Active Merchants² |
24,846 |
164.5% |
|
|
¹A$ to US$ exchange rate of $0.7342, as of 30 November 2020. |
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²Defined as a consumer or merchant that has purchased through Sezzle in the last 12 months. |
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Sezzle achieved a number of records in November 2020:
- UMS reached US$113.0 million, an increase of 188.5% compared to November 2019. November represented the highest monthly UMS performance since the Company's inception.
- Annualized UMS reached US$1.36 billion, which is well ahead of the Company's 2020 guidance of achieving annualized UMS of US$1.0 billion.
- Active Consumers crossed the 2 million mark for the first time, as the Company has added over 1 million Active Consumers since February 2020.
- The Company continues to experience extraordinary growth in SMEs, as the number of Active Merchants reached 24,846 (up 164.5% YoY).
- Canada performed well, producing faster UMS growth rates (YoY and MoM) than the US.
Select Metrics for BFCM Weekend
- UMS for BFCM weekend (4 days) totaled US$28.5 million, a 146.4% increase compared to the same period last year.
- BF 2020 represented the Company's single largest day of Underlying Merchant Sales and Active Consumers.
"In addition to our record setting performance in November and over BFCM weekend, we are extremely excited about the direction of our business, as we recently partnered with GameStop and eCommerce platform Wix," noted Mr. Youakim. "Sezzle is now offered at GameStop's network of more than 3,300 U.S. retail stores, its online store, and in the GameStop mobile app. Our integration on Wix is available to all Wix merchants in the United States, Canada, India and in the future will be available in other regions as Sezzle expands internationally."
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 more than 2.0 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 affected, unless the consumer elects to opt-in to Sezzle's credit building feature - Sezzle Up.
This increase in purchasing power for consumers leads to increased sales and basket sizes for the more than 24,800 Active Merchants that offer Sezzle.
For more information visit sezzle.com.
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SOURCE Sezzle
