Wagetap Named a Next Hottest Product in Amplitude’s Product Report 2022

Wagetap Named a Next Hottest Product in Amplitude’s Product Report 2022

Annual list highlights the top 30 organisations across the globe demonstrating remarkable growth in user adoption.

Wagetap announced that it was named a Next Hottest Product by Amplitude in the digital analytics platform’s Product Report 2022.

The Next Hottest Products list recognises products and companies that have put the digital customer experience at the core of their business strategy. Despite an economic downturn, these products have seen at least 40% year-over-year growth in monthly active users, according to data sent to Amplitude.

Wagetap allows Australians to get their wage on demand. By using the app, users can access a portion of their salary in advance, as a cheaper and more responsible alternative to payday loans.

“It’s an honour to be included in the Next Hottest Product Report alongside some of the world’s fastest-growing companies,” said Mitchell Stevens, CEO, Wagetap. “Our 250%+ growth in the last year places us in the top five across Asia Pacific.”

The Next Hottest Products are selected from aggregated, anonymised monthly user data sent to the Amplitude platform during a 13-month period, from June 2021 to June 2022. To be included in this year’s list, products must have met a minimum of 10,000 monthly active users at the start of the analysis period. All companies included must have been privately held as of June 2021.

“Today every company leader is thinking about how to grow in an efficient and sustainable way. Your digital product is the answer,” said Justin Bauer, chief product officer, Amplitude. “The companies recognized in this year’s Product Report have shown tremendous, lasting growth despite turbulent economic conditions. Product-led growth is a core part of many of their strategies, and for good reason. Product-led organizations can create experiences users love, acquire new customers at lower costs, and use data to ensure they’re making the right product investments. I am expecting big things from the companies on this list.”