Australian FinTech company profile #137 - Openpay

1. Company Name: Openpay

2. Website: www.opy.com/au/

3. Key Staff & Titles:

– Michael Eidel – Group CEO & Managing Director
– Dion Appel – CEO Australia/New Zealand and Group Chief Commercial Officer
– Ed Bunting – Group Chief Operating Officer and General Counsel
– Theresa Abela – Group Chief Risk & Compliance Officer
– Georgina Whalley – Group Chief Marketing Officer
– Jussi Nunes – Group Chief Finance Officer
– Marcus Waterreus – Group Chief People & Culture Officer
– Konrad Pels – Group Chief Customer & Product Officer

4. Location(s): Australia, New Zealand, UK & USA

5. In one sentence, what does your fintech do?:

Openpay’s BNPL offering focuses on longer, larger, customised plans with durations of up to 24 months and values of up to $20,000, in verticals where we make a true difference; Automotive, Healthcare, Home Improvement, Memberships and Education; to fulfil our global mission “to change the way people pay, for the better.”

6. What’s next for your company? And are you looking to expand overseas or stay focussed on Australia?:

Openpay is accelerating our international expansion while continuing to support and nurture our Australian business across our key verticals.

We are expanding our reach in the burgeoning US payments market, under the brand name Opy, which brings with it a US$829b opportunity in our core verticals. Opy continues to sign new aggregators in the US market to leverage scale, in line with our focused six-pillar US market entry strategy.

We also see the UK as a core market for growth. In June 2021, Openpay announced that it would acquire 100% of Payment Assist, a leading BNPL provider to the UK automotive sector, in one of the largest BNPL acquisitions in the UK to date.

Openpay’s B2C buy now, pay later (BNPL) business continues to grow. We distinguish ourselves from our competitors not only by offering longer and larger payment plans that benefit consumers, but also by offering unparalleled customisation tailored to the needs of merchants, which includes applications, credit checks, approvals, and account management all in one system.

Openpay also has a unique B2B offering, OpyPro, a SaaS-based platform that allows companies to manage trade accounts end-to-end in the one system.