ASX-listed fintech Openpay reports steady growth following US expansion

Buy-now-pay-later (BNPL) company Openpay has reported another quarter of steady growth as it reaches into the US.

Openpay saw a slight increase in its number of active merchants (4,400), customers (614,000), and active plans (2.5 million) last quarter, signalling ongoing growth for the company that listed on the ASX in late 2019.

Significantly, the quarter also saw Openpay expand into the US market, where it is branded as ‘Opy’, and has already signed on with merchants in the dental, veterinarian, and car industries.

Openpay is also starting a pilot program with a US healthcare insurance company that has access to over 50 million customers.

Non-Executive Chairman, Patrick Tuttle, said the company was adopting a sensible approach as it manoeuvres against other major players in the BNPL market.

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