its now trading at a very high multiple of current revenue of 2...

its now trading at a very high multiple of current revenue of 2 million a quarter (8 a year)
I think it's early days and there is still a lot of risk for IOU as they grow they need lending they need to get more cap raises and dilute. The indo and Japan market are unique information bnpl not many players in those Geo's so it could be a good take over company at some point. If they expand further to say Korea, China, India, they could become a big player in time. But competitors are ramping up too. Szl already giving India a go. Not sure about China. I understand Alipay Huebei and Tencent Henfu offer bnpl features in China currently.
Interestingly 93 percent of alipays 190 million users are under 35 years old. Alipay Huebei is the established bnpl in China then....
so imagine an investment by Alipay into IOU.... That would make sense to further capture Asian mkts...

Let's see how it goes