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19.5¢ openpay group ltd

The Openpay platform and payment structure is worth over $50M....

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9,207 Posts.

863

07/02/23

18:35

Post #: 66124294
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Originally posted by CDO22: ↑

I doubt very much than anything else but OpyPro will receive a bid. The brand value of the BNPL offering will disappear very fast in a very competitive market. That hit is only worth whatever will be recovered out of the funding facility plus any cash in the bank, minus the receivers fees. Given 85% LVR the receivables should be about $100mio and one could hope they can recover $15mio after repaying GCI+Fortress. Highly dependent on the behaviour of clients and whether they’ll cooperate in repaying their debt. With $17mio cash, there should be some excess after repayment of the $26.5 drawn from the working capital facilities. Though they still have to not 1/3 of their workforce. If they get $5mio for OpyPro in the current context they should be happy. Max $10mio value in total to be recovered I think.

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The Openpay platform and payment structure is worth over $50M. I'd say close to $100M. For a large BNPL this could lead to massive scaling opportunities.
- longer payment terms
- higher loans
- credit checks across multiple platforms
- merchant fee synergies
- funding synergies
- lower Opex
- differentiated offerings or white label platform

Who is Amal Securities?

OPY Price at posting: 19.5¢ Sentiment: None Disclosure: Held
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0 Great analysis

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