PaySauce Limited (NZX: PYS) Quarterly Market Update - Dec 2020

Thursday 14th January 2021

Online employment solutions provider PaySauce finished the third quarter of FY21 with continued revenue and customer growth.

Total recurring revenue grew 44% to $569K, compared to the third quarter of F20.

The number of New Zealand employees paid through PaySauce software increased by 34% to 17,944 people, while the total number of businesses processing through PaySauce increased proportionately to 3,274. PaySauce welcomed more than 300 new clients this quarter, leading to a 6% increase in the total business customers since the last quarter.

CEO and co-founder, Asantha Wijeyeratne, said the platform’s continued growth reflects the recovery of the small business economy in the wake of COVID-19.

“Over the last quarter we saw both new and established businesses coming on board,” said Mr Wijeyeratne.

“It’s been particularly uplifting to see our nation’s entrepreneurs regaining their balance and confidence over the last quarter”.

“We’ve seen a significant number of customers resume payroll processing after a break, as they’re once again in a position to employ staff. Our customers are a tenacious and resilient bunch, and it’s our pleasure to support them and see them bouncing back after a diabolically challenging year.”

See the link below for more details:

PaySauce F21 Q3 Quarterly Market Update - Dec 2020

Source: PaySauce Limited

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