Payright recognised for excellence at The International Busines Awards

September 18, 2020
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News

Payright’s successful growth strategy and achievements amid the challenging COVID-19 environment have seen the buy now pay later provider recognised with a ‘Bronze Stevie’ at the prestigious International Business Awards.

The annual awards are contested by 3800 organisations globally.

Piers Redward, co-CEO said it’s a significant achievement for the four-year-old business.

“We’ve carved out a niche in the market by specialising in higher value transactions, typically in the range of $3,000-$5,000 and up to $20,000, for considered purchases such as dental, medical and personal care services, and lifestyle and home improvement products and trade services – a space otherwise underserviced by BNPL providers.”

Judges were particularly impressed with Payright’s strong leadership and ability to deliver an oversubscribed Series D capital raise this year, during a time of market challenges and uncertainty.

Myles Redward, co-CEO said consumer demand for choice, flexibility and affordability when purchasing life’s essentials is fuelling growth in Payright’s business.

“This year has seen a 37 per cent increase in new partners joining the platform, aligning to the trend of the growing number of consumers who are looking for flexible, affordable and transparent payment arrangements. We’ll maintain this steadfast commitment to supporting new and existing merchants as they accelerate their growth into 2020 and beyond.”

 

Judge’s comments

“Payright has positioned themselves well in the Australian market to serve niche verticals that have not had the financial support historically for buy now, pay later options.”

“Payright has done an excellent job of creating opportunities for a segment of the population in a relatively short time. The founders have collectively worked to create a strong mission, vision and values for the company and this is evident in the success.”

“By growing at such a rapid pace, building new products that are authentic and sustainable, Payright is pushing the envelope in fintech and finance forward. This company has achieved so much in a short time and the organisation will continue to grow with strong leadership and new product innovations.”

“Payright has the right balance of evidential outcomes, energy and appeal.”

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