LYFT - Payfare: Market Is Misjudging Its Growth Potential

2024-06-10 05:14:38 ET

Summary

• Payfare provides instant payout and digital banking solutions to gig economy workers in North America.
• The company has strong financial strength with a net debt position of -$84.6 million and a growing cash stockpile.
• Payfare is currently trading below historical valuation multiples, making it a potential investment for future growth.
• The gig economy is expected to grow at more than 15% per year through 2031 and Payfare has strategic partnerships which will allow them to benefit from the market growth.

All figures are in unless otherwise noted

All financial information is from Seeking Alpha unless otherwise noted.

Investment Thesis

Payfare now has over 1.4 million active users on the platform which continues to grow, they are in an excellent financial position with zero debt on their balance sheet, and they are currently trading significantly below historical valuation multiples....

For further details see: