AFTPY - Afterpay: Competition Threatens Global Expansion

• Afterpay Limited is a one of the pioneers the BNPL market which has grown its revenue to half a billion in just 5 years.
• BNPL transaction volumes are growing astoundingly fastand could further grow 72% on rising incomes among Millennials and Gen Z customers which makes up three quarters of the company’s revenues.
• The company is pushing its global expansion into North America and the UK forming partnerships with notable brands and financial institutions and fintechs.
• We are sceptical of its ability to sustain its growth momentum as competition heats up from the notable entry of Paypal and mounting regulatory scrutiny.

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