BNPL newcomer Applypay lands Hudson as marquee client

ASX-listed recruitment tech turned fintech Applyflow (ASX: AFW) has scored Hudson as its first major client for its new Applypay recruitment installment product.

The new Applypay product is focused on B2B payment solutions for recruitment fees, a market worth over $15 billion in Australia.

Applypay is taking a similar approach as its consumer peers, adding recruiters as their distribution channel to tap into a pre-existing customer base.

CEO of Applyflow Steve Butler said, “Welcoming Hudson as our first major client is a major win for Applyflow and shared the same mission of supporting businesses across Australia to grow their workforce.”

“In the current market where demand and wage inflation is rising, Applypay allows recruiters upfront capital and the ability to offer their clients more attractive payment terms.”

CEO of Hudson Mark Steyn said, “Our Hudson businesses are always looking for ways in which we can enhance and enrich the client experience, and our partnership with Applypay allows us to add another great offering in this regard.”

“We are really excited to be able to offer our clients fast and flexible ways to pay through Applypay, as well as the potential for other use cases across our businesses.”

Hudson is the largest privately-owned talent solutions and recruitment company in Asia Pacific with revenue exceeding $375 million last year. It expects Applypay to power a vast amount of its Australian recruitment transactions.

Speaking about the company’s capital position and growth prospects, Butler said, “We recently raised an additional $5.7 million of growth capital from institutional investors, including Regal Funds Management and Thorney.”

“This funding will allow us to grow quickly in a largely untapped, engaged market.”

Applypay is also in discussions to put in place a large funding facility, which will allow the business to scale with demand.