CEO Charlie Youakim of Sezzle, flanked by co-founders Killian Brackey and Paul Paradis. Photo: Glen.stubbe@startribune.com Tuesday, October 30, 2018
Sezzle, the emerging Minneapolis fintech firm focused on a zero-interest, layaway-style payment tool for people without conventional credit, is raising capital.
Sezzle hopes to raise up to $30 million through an initial public offering on Australia's ASX exchange in June or July. The company chose to file on the Aussie ASX exchange because it's less restrictive for early-stage companies and because competitors have launched from Melbourne.
Sezzle brass met this spring with Australian securities regulators and local investors.
"Now is the right time to go public in Australia because investor demand is very high and it gives us access to a large amount of capital at a very critical inflection point for our company," said Sezzle Chief Revenue Officer and co-founder Paul Paradis.
Sezzle's largest competitor, Afterpay, also is based in Melbourne.
"U.S. competitor Sezzle is set to become the latest buy-now-pay-later fintech to list on the ASX, with the Minneapolis-based startup inspired by the success of its local rivals," according to an April article in the Australian Financial Review.
Sezzle with 78 employees, raised $5.6 million in a private stock offering in April, according to a U.S. Securities and Exchange filing.
