- Fintech company Sezzle (SZL) has surpassed one million active customers on its digital payments platform
- Sezzle’s growth has climbed high in the past few months, having secured its 500,000th customer in August last year
- The company attributed the growth to a successful Black Friday and Cyber Monday shopping season
- Sezzle gives shoppers a short-term, interest-free payment option that allows consumers to pay four instalments over six weeks
- Shares in Sezzle are flat at market close, worth $1.85 each
Emerging fintech company Sezzle Inc. (SZL) has surpassed one million active customers on its digital payments platform.
The payments platform launched in the U.S. in 2016 and has since experienced quite a rapid growth. Both merchants and consumers have opted to use Sezzle’s platform for their “buy now, pay later” purchases.
Sezzle’s growth has climbed high in the past few months, having secured its 500,000th customer just six months ago in August 2019.
The company noted the recent growth can be attributed to a “very successful” Black Friday and Cyber Monday shopping season late last year.
“Today is a day for celebration, not only for our company, but for our retail partners, who now have a direct path to accessing a vibrant community of over one million savvy shoppers who know how to unlock the value of their purchasing power,” CEO and Co-founder Charlie Youakim said.
Sezzle provides shoppers with a short-term, interest-free instalment option that allows consumers to budget four payments over six weeks.
“One million active users is a huge operational achievement, and a testament to the value our users see in our product,” Chief Revenue Officer and Co-founder Paul Paradis said.
“Sezzle is definitely gaining traction as the marquee ‘buy now pay, later’ solution in the U.S,” he added confidently.
While celebrating this significant milestone, the co-founders reiterate there’s “lots of work ahead” in making the company a leading dynamic and trusted payments platform.
Shares in Sezzle are flat at market close, worth $1.85 each.