PYFRF - Payfare: Delivering Growing Profits
2024-07-09 20:40:21 ET
Summary
- Payfare Inc. is a payments company with strong growth potential, partnering with major gig companies like Uber and Lyft.
- I expect the company to grow revenue at a 20% CAGR to $600m by 2029, with a potential stock value of over C$30/share.
- Payfare powers instant payouts to gig workers and has multiple drivers to grow the business long-term.
Payfare Inc. ([[PYFRF]], [[PAY:CA]]) (PAY CN) is a Canadian-listed payments company with a C$290m market cap that has C$85m of cash and no debt. The business is the dominant player in a niche market, offering instant payouts to gig workers once they complete a delivery or ride. The business has a very impressive long-term track record of growth and has recently inflected to profitability. Despite partnering with the largest delivery companies like DoorDash, Uber, and Lyft, the company is little known among US-growth investors. I expect that to change in the coming quarters and years for a number of reasons....
Payfare: Delivering Growing Profits