zipMoney records $10million in the month of April

zipMoney Limited (ASX:ZML) announced on the ASX that it originated more than $10 million in transaction volume on its platform in the month of April alone. An outstanding result from the entire team driven by the continued activation of large merchant accounts, the rollout of zipPay and a number of strategic marketing initiatives. You can read more here

On 29 April 2016 zipMoney released its Quarterly Activities Report for the period ending 31 March 2016.

Noteworthy highlights included:

  • Revenue growth of 104% on last quarter including merchant fee revenue growth of 128%
  • Transaction volume growth of 67% on last quarter; more than $23 million originated on platform to date
  • Loan book ended the period at $14.2 million with healthy repayment profile
  • Strong positive trend in operating cash flows; cash receipts up 117% on last quarter
  • Successful zipPay launch with 40 merchants already onboarded
  • Strong traction with lighthouse brands; Thermomix joins the zipMoney platform

“It was a pleasing result for the quarter. Our scalable technology platform is largely fixed cost so marginal revenue is increasingly profitable. We are beginning to see the early dividends of our continued investment in product and technology as well as our salesforce. We have invested significantly in the pipeline and we expect more lighthouse brands like Thermomix to join the zipMoney platform in the next quarter.”