Alternative Metrics, page-1337

My current estimate of US customer numbers is 1.725 million.

With Clearpay under a "soft launch", the UK has started to accrue customers as well. There are over 15 merchants live with it at the moment.

Merchants in ANZ are continuing to grow, these merchants are SMB's who pay a higher rate than the big retailers, so Afterpay will be earning more from them. Customer growth likely tailing off in ANZ, but repeat transactions and yearly spend likely to continue to increase as verticals grow.

In-store in ANZ has been growing as well, also likely in the SMB space.

i.e. the signal is very good. My thoughts are there is just there is no official information to justify a higher valuation right now.