- Zip Co (Z1P) has provided a trading update for the December quarter, often doubling its growth year-on-year across a number of key metrics
- The fintech's group revenue for the quarter reached $102 million — up 88 per cent in the year-on-year (YoY) statistics
- Its transaction volume also more than doubled to hit $1.6 billion over the Christmas season
- Zip now services 5.7 million customers, marking a 97 per cent increase in its client base compared to the same time last year
- The ASX lister, which offers point-of-sale credit and digital payment services across five major countries, also saw its U.S. arm deliver record results
- During the quarter, Z1P raised $176.7 million in equity, with the majority of funds allocated to fuel its growth in the U.S. market
- Following the report, Zip Co shares soared 8.36 per cent to trade at $6.48 per share
The latest quarterly trading update from Zip Co (Z1P) shows it is one of the fastest-growing buy now, pay later (BNPL) players in the world.
