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HomeBankingZip Co: Swipes $45M in quarterly revenue, on track for growth

Zip Co: Swipes $45M in quarterly revenue, on track for growth

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Zip Co: Swipes $45M in quarterly revenue, on track for growth

  • Fintech Zip Co (Z1P) has generated $45 million in revenue for the March 2020 quarter
  • The revenue accrued represents a 96 per cent increase on the prior corresponding period (PCP)
  • However, transactional volume slumped eight per cent compared to last quarter, while total transactions dropped by roughly one per cent
  • Statistically, customer numbers increased by 194,000 to 1.95 million, up 67 per cent to the PCP
  • The fintech darling also signed its first global agreement with fashion and lifestyle retailer, Cotton on Group
  • According to Zip, customers have used this feature to pay for essential goods during the pandemic

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