Zip Co Limited (ASX:Z1P) has provided trading update for May 2020.
Zip Co noted 78% growth in its revenue of $15.6 million YOY. Monthly transaction volume improved by 63% to $189.3 million and receivables by 85% to $1.2 billion.
The customer count increased to 2.1 million. Around 65k customers were added during the month. Merchant numbers boosted 46% to 23.6k.
During June 2020, the Company declared the acquisition of US BNPL player QuadPay. In juxtaposition, it raised ~ $200 million from US-based Susquehanna International Group.