Yes I actually wrote to Investor Relations several weeks back...

Yes I actually wrote to Investor Relations several weeks back regarding the issue of retail investors in the US not being able to buy the stock and what the plan was - I didn't get a response, though the COVID issue kicked off right after so I think they all had other things to worry about, plus I was really just fishing, I didn't think they'd divulge future capital raising plans etc.

Zip is an interesting one - a while back I wrote it off as just second fiddle to APT, but that was a miscalculation - I considered the BNPL market to be a 'winner takes all', which structurally it could be (many industries could be), however now with several credible operators it's looking more like a handful of companies will carve up the market. I do however think Zip could have some issues in the coming years - they promote their international expansion very prominently, but I'd argue it's actually international exposure - i.e. buying a stake in a foreign operator is not the same as having your service on the ground. With APT/SZL/Klarna/Affirm in the USA, APT/Klarna in the UK and (soon) APT/SZL in Canada, Zip could well find themselves a big fish in a very small pond here in Australia. Given SZL's growth rate, in about 9-12 months they'll likely overtake Zip in terms of active users and potentially rate of annual merchant sales. It will be interesting to see how it plays out - the ASX here is all APT/Zip territory, so having a foreign operator come up as a credible operator in the US/Canada market will throw some people off.

I wonder why the company is so cagey about the Target arrangement - if you have consumers posting publicly about using SZL and Target you may as well state you're doing a trial, though they may only want to announce if it's a done deal.