Home > Industry > Finance > Openpay Is Planning US Launch

Openpay Is Planning US Launch

Buy now pay later (BNPL) platform Openpay has revealed it is planning to launch in the crowded US market.

The BNPL recorded net cash outflows of nearly $22 million on operating activities and finished the period with a cash balance of just over $52 million.

Over the quarter, active plans hit two million, up 141 percent compared to the previous corresponding period.

Active customers were up 69 percent to 541,000, with 51 percent of these from the UK.

CEO Michael Eidel announced the company was putting the finishing touches on its launch into the US market, targeting go-live in its key healthcare vertical in early October 2021.

You may also like
Afterpay Posts Loss Despite Mushrooming Sales
Huge Stateside Expansion Boosts Afterpay
Afterpay Facing US Class Action As Research Predicts Revenue Upsurge
PayPal Muscles In On BNPL, Credit Cards
Afterpay’s Molnar Backs Start-Ups