Early payment Announced a strong start for Fiscal Year 2022, driven by the growth of its core invoice and trade finance products.
Early Pay CEO Daniel Riley (pictured) said:
“The momentum continues until October, with Earlypay reaching a record $ 211 million per month, and trading volumes are expected to accelerate further as blockade restrictions end in New South Wales and Victoria.
“Following a good start in the fiscal year, supported by sound balance sheets and improved financing facilities, EarlyPay will increase net income and amortization guidance for the 2022 fiscal year from 40% to 50% in the previous fiscal year. I’m upgrading. “
Daniel Riley is the CEO of Early Pay Limited, ASX Initial Public Offering (EPY) with a market-leading technology platform for small business lending. Earlypay provides invoice loans, equipment loans and trade loans to support SMEs with working capital.
“The first quarter of this fiscal year had excellent results for Earlypay,” Riley added.
“Overall invoices and trade finance business increased total trading volume by 40% to $ 569 million and revenue increased by 52% compared to the previous corresponding period.
“Fortunately, we maintained Equipment Finance’s loan books at $ 94 million for the first three months of lockdown and resumed strong growth in the second quarter.
“Overall, with strong organic growth and a healthy pipeline of new businesses, we are on track to reach our strong growth targets for fiscal year 2022.
“We also expect an improvement in profit margins for the previous fiscal year as key invoice indicators that affect earnings continue to normalize towards long-term historical averages.
“The expansion of Trade Finance products, where small and medium-sized enterprises (SMEs) fund the purchase of shares and are offered to Earlypay clients in collaboration with Invoice Finance, has experienced strong demand from existing and new clients. We support retention and new acquisition of clients.
“Earlypay’s innovative online platform integrates with popular cloud accounting providers to provide live and transparent access to finance, making it easier for Australian SMEs to access invoices and trade finance. doing.
“Continuous investment in technology includes the addition of the Trade Financing module to the Earlypay platform, allowing clients to seamlessly manage invoices and Trade Financing together. This development makes them more efficient. It also saves a lot of operating costs by servicing and driving higher operating margins.
“As a business, our focus is on providing small businesses with state-of-the-art, intuitive and accessible products and services that make it easy for clients to maintain and grow their operations.”
Providing new technologies and innovative services will help Earlypay grow and boost its financial results.
Source link Providing new technologies and innovative services will help Earlypay grow and boost its financial results.