Business
Zip soars on back of big US buy – The Australian Financial Review
Zip has grown to 4.5 million customers; 2.3 million in Australia and 2.2 million in its new US operation.
Zip’s record quarterly transaction volume of $943.1 million delivered revenue of $71.7 million for the first quarter, up 96 per cent on the pcp. Of this, $23.4 million was from Quadpay, the New York-based firm Zip paid $400 million for in June. Merchants accepting Zip increased by 69 per cent over the past year to 34,000.
Chief executive Larry Diamond said the current quarter “has begun solidly in all markets, which is seasonally the strongest as we run up to Prime Day, Black Friday, Cyber Mond…
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