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Highlights
- Prezzee Pty Limited is considering getting listed on the stock market soon.
- Studies indicate that the gift-card market could expand from AU$838 billion in 2019 to AU$2.81 trillion by 2027.
- Prezzee, which operates in the US and the UK, anticipates its revenue at approximately AU$55 million in fiscal 2022.
Speculations are rife that the leading global eGift card platform Prezzee Pty Limited is considering getting listed on the stock market soon.
This is primarily after the e-gift card business has been making efforts to capitalise on investor attention, especially in the payments and financial technology sector after the successful acquisition of “buy now, pay later” giant Afterpay (ASX:APT).
Noticeably, Square Inc had announced its decision to acquire BNPL operator Afterpay for AU$39 billion on 2 August 2021.
The digital gift card retailer, Co-founded by Claire Morris and Matt Hoggett, recently stated that it is looking into funding options, possibly indicating an initial public offering (IPO).
What has sparked a new direction for Prezzee is the attention the fintech and payments sector has gathered in recent times. Market enthusiasts believe that the digital payments system holds enormous growth potential.
Moreover, it is also aiming to take a larger slice of a thriving global gift-card market. Research indicates that the gift-card market could expand from AU$838 billion in 2019 to AU$2.81 trillion by 2027.
CEO Tony Karp has reportedly said that the latest corporate activities, such as those involving the acquisition of Afterpay, have no doubt caught the bards’ attention.
The Company is 85% held by Precision Group, a private property investment and management company, while Prezzee’s co-founders and directors own the remainder.
The digital gift card business has stated that the Company is on the path to process over AU$1 billion in corporate and retail cards in its 2022 financial year, an increase from about AU$430 million in 2021.
Prezzee, which operates in the US and the UK, anticipates its revenue at approximately AU$55 million in fiscal 2022. That compares with AU$20.2 million in FY21 and AU$6.4 million in FY20.
Bottom Line:
The Company has a huge presence already and is planning to launch itself in France and Germany in the next calendar year. Prezzee, is also a merchant of digital card payments to tech giants such as Amazon, Apple and David Jones.
Recently, Prezzee had signed a global partnership with Mastercard Inc. to add more customers to its base.
