MEDIA RELEASE: ASX-listed zipMoney (ZML) first-half results for 2016

MEDIA RELEASE:

ASX-listed zipMoney (ZML) are delighted to announce their first-half results for 2016.

A brief summary of the key highlights and initiatives:

– zipMoney have now hit $20m in total transaction volume on the platform triggering milestone 2

– Results for the half saw $10m in transaction volume with December are highest month ever at $2m; January was up over 30% mom

– Revenue for the period was ~$750k and in January alone we achieved $237k up 40% over December

– Cash at bank in Dec was $4.2m, or $3.5m after excluding $693k in restricted cash (from the securitisation trust)

– Active customers were over 10,000 and merchant partners numbered 379 at Dec-15

– Sales team led by Craig Dufficy and Jonathan Kelly firmly in place with a number of new hires over Dec-Feb; 10 hand-selected BDMs with backgrounds from PayPal and FlexiGroup to spearhead the GTM

– Pipeline building each day and zipMoney looks forward to announcing a number of lighthouse brands in due course across retail, education and health verticals

– zipMoney launches No Interest Ever product zipPay to capitalise on customer acquisition through targeting lower ASPs; early results very encouraging

– Established $100m securitisation warehouse backed by credit tech platform Victory Park Capital, becomes AFSL licensee