Live IPO - Openpay Group Ltd.
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Openpay Group Ltd (ASX: OPY) is a Melbourne based payments technology company that offers a buy now, pay later (BNPL) product, with a mission “to change the way people pay, for the better”. The technology (Openpay Live) facilitates seamless, secure and swift payments between merchants and customers and allows customers to better manage their cash flow by splitting payments for their in-store and online purchases over time and free of interest from a growing and diverse range of merchants.
With over 1,754 active merchants in Australia, UK and New Zealand, Openpay currently services merchants across four key household spend verticals, including consumer retail, healthcare, automotive and home improvement, representing $366.6 billion in combined sales in Australia during FY19.
Openpay works with merchants to provide a wide variety of BNPL plans ranging from between 2 and 24 months in duration, and of values between $50 and $20,000. This represents larger payment plan sizes and longer terms relative to many of its competitors. With over 153,000 active customers and more than 318,000 active plans, Openpay has delivered significant growth over the last three years, with active plans growing at a CAGR of 112.4% from FY17 to FY19.
Pay By: Dec 6th
List Price: $1.80
Minimum Investment: $2,000
Raising: Up to 50M
Lead Manager: Shaw and Partners
