Pushpay Holdings now processing US$2.2b annually

Company News

by Jessica Amir

Mobile phone app company, Pushpay Holdings (ASX:PPH) is now processing US$2.2 billion in annualized payments.

It comes as the company now serves 12 of the top 20 largest churches, and 50 of the top 100 churches in the US.

As a result, it also brought forward its US$100 million annualized committed monthly revenue (ACMR) target to December this year. It originally anticipated it would hit the target in March 2018.

The company says hitting $US2.2 billion of giving represents that a significant amount of ‘good’ is being done in local communities.

In 2016, over US$120 billion was given to religious organizations in the US and PushPay processed about 2 per cent of that through their software.

Shares in Pushpay Holdings(ASX:PPH) closed 0.2 per cent higher yesterday at $2.49.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.