Zip Co experienced record transaction revenue and volumes in the first quarter of the new financial year, and also announced the successful completion of its global rebrand.
The buy now, pay later group reported quarterly revenue of $136.8 million, up 89 per cent on the same period in 2020. Its first quarter transaction volumes climbed 101 per cent to $1.9 billion, while transaction numbers rose 177 per cent to 14.7 million.
Customer numbers grew 82 per cent year-on-year to 8 million, and the number of merchants using Zip’s platform increased by 71 per cent to 55,200.
“Another very strong set of numbers for Q1 as momentum for the global Zip business continues, with more than 8 million users now on the platform,” said CEO Larry Diamond.
“The quarter saw the successful completion of the global rebrand, which now sees Zip unified under a single payments brand at checkout globally.”