PaySauce Limited Analysis

Overview

PaySauce is a multiple award-winning cloud-based FinTech business, delivering Software as a Service payroll solutions to small and medium sized enterprises ("SMEs").

PaySauce has a particular focus on agricultural SMEs. PaySauce enables SME owners to pay staff accurately and efficiently using web, iOS, and Android applications. The PaySauce platform includes mobile timesheets, payroll calculations, banking integration, PAYE filing, labour costing, automated general ledger entries and digital employment contracts

PaySauce was founded in 2015 by Asantha Wijeyeratne, a New Zealand FinTech entrepreneur with a record of success in building SME service businesses, and Troy Tarrant, a software architect and developer with a background in creating payroll and human resource solutions. Their vision is to take the Kiwi-grown PaySauce software platform to businesses around the globe, helping SME owners spend less time paying staff and more time doing what they love.

Performance

The following information was extracted from PaySauce Limited's Market Update, released 2 October 2024:

KEY YEAR-ON-YEAR PERFORMANCE HIGHLIGHTS FOR Q2 FY25

• ARR of $8.7m (Up 17% YoY)
• Recurring revenue of $2.2m for the quarter (Up 19% YoY)
• Processing fee revenue of $1.6m for the quarter (Up 21% YoY)
• Customers at end of the quarter: 7,821 (Up 9% YoY)
• Migrated goPayroll product to AWS

PaySauce grew its customer base by 9% year on year to 7,821, a net increase in customers of 619 since the same time last year.

Recurring revenue for Q2 FY25 is up 19% YoY at $2.2m, with processing fees contributing $1.6m (up 21% YoY), and interest revenue from funds held on behalf of customers contributing $0.6m (up 14% YoY).