![]() ![]() ![]() The majority of Fat Zebra’s revenue comes from payments infrastructure services – where it takes a percentage per completed transaction – but it also offers services such as for fraud prevention and consumer authentication and wants to add other services in the broader payments ecosystem. “We have clients in the wagering space, ticketing space, in the buy now, pay later space where they tend to these short windows of high traffic, and they rely on a platform that processes without latency,” Mr Dragila said. At peak periods such as the Melbourne Cup, Fat Zebra can process 400 transactions per second compared with the big four banks which complete about 250 transactions. Faster than the big banksįat Zebra’s customers can collect payments in less than a second. Stripe, according to The Wall Street Journal, lowered its own valuation to $US74 billion from $US95 billion in July. It is going up against giants like US players PayPal and Stripe, Inc and Amsterdam-based payments operator Adyen. It operates in Australia and NZ and is making early headway in the US, Canadian and British markets. The company has a small slice of the digital payments market which is estimated to reach nearly $200 billion by 2024, according to Statista.įat Zebra offers one integration point for merchant clients who are using multiple banks. Fat Zebra hopes to top the $100 million sales mark within two years. Revenue is forecast to nearly double to $31.8 million in the 2023 financial year, while pro forma normalised earnings before interest, taxes, depreciation and amortisation will jump more than six-fold to $5.3 million. ![]() On average, 630 new merchants are added to the platform each month, according to a sales flyer. It counts Zip, Sports Bet, Myob and Harvey Norman as customers. Ultimately, we want to be that financial infrastructure layer for Australia, where, no matter what type of business you are, if you’re a platform, a FinTech, a PSP (payment service provider), you can come to us for every touchpoint across that financial ecosystem.”įat Zebra has pitched to investors a track record of strong growth and – over the past three years – profits. “We see ourselves as probably more of the infrastructure side of payments. “The story of Fat Zebra has really been about word of mouth growth,” Mr Dragila told The Australian Financial Review. First Data has since merged with $US60 billion ($95 billion) NASDAQ-listed Fiserv, Inc, which is a 20 per cent shareholder in Fat Zebra. They have raised money just once from outsiders since starting Fat Zebra in 2012, when they brought on US giant First Data Corp in 2018 in an $8.8 million Series A funding round. The business has strong positive cash flow and wants to raise between $50 million and $100 million with a focus on M&A opportunities.įat Zebra founders Pred Dragila and Matt Lewis have kept a low profile as they built a technology stack that made global online payments simple. On average, 630 new merchants are added to the platform each month. It is working with boutique Ad Astra Corporate Advisory to secure a long-term funding partner for the next stage of its growth.įat Zebra co-founder Pred Dragila, specialises in online payments. But today, Fat Zebra is processing over $17 billion in e-commerce payments annually for 30,000 plus merchants, and doing so faster than the banks when sales peak. A decade ago, when young Rich Lister and Showpo founder Jane Lu began selling her wares on its first website, and Zip’s Peter Gray and Larry Diamond were thinking about setting up shop, the co-founders of digital payments platform Fat Zebra were getting started too.Īlternative e-commerce payments platforms were an immature sector then. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |