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Gift-card retailer Prezzee looking to go public

Digital gift-card provider Prezzee is mulling a float on the Australian Securities Exchange, and is looking at funding options in light of Square Inc’s impending $39 million Afterpay acquisition.

Chief executive Tony Karp said that while the business is cash positive, extra funding can be funneled toward accelerating its growth prospects: including growing beyond its current markets of Australia, the US and UK, and upcoming launches in Germany and France.

“Recent corporate activity, including that involving Afterpay, has obviously got the attention of the board,” said Karp.

“Our growth plans can be broadened to include Asia and China and a public company model my assist those outcomes.”

The business is expecting revenue to more than double in FY22 to $55 million, compared to the $20.2 million it generated in FY21 and the $6.4 million in FY20.

Prezzee recently partnered with Mastercard, and will use that partnership to obtain new customers through the card giant’s loyalty and engagement services.

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