Zip (ASX:Z1P) positioned to accelerate global growth

Company News

by Anna Napoli

 Digital finance company Zip (ASX:Z1P) has seen May's monthly revenue surge by 78 per cent year on year to $15.6 million.

Monthly transaction volume climbed 63 per cent to $189.3 million compared to the year earlier period.

Customer numbers increased by 65,000 customers over the month to 2.1 million, with merchants up 46 per cent to 23,600.

Zip CEO Larry Diamond says the compan remains on track to hit its 2020 financial year target of $2.2 billion in annualised transaction volume set at the beginning of the year.

Shares in Zip (ASX:Z1P) are trading 8.9 per cent lower at $5.95.