Payfare Inc
TSX:PAY

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Payfare Inc
TSX:PAY
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Price: 4 CAD Market Closed
Market Cap: 193.2m CAD

Payfare Inc
Investor Relations

Payfare, Inc. engages in the provision of mobile banking, instant payment, and loyalty-reward solutions. The company is headquartered in Toronto, Ontario and currently employs 70 full-time employees. The company went IPO on 2021-03-19. The firm provides instant payout and digital banking solutions for gig economy. The firm partners with platforms and marketplaces, such as Uber, Lyft and DoorDash to provide financial security and inclusion for their workforce. The company provides gig workers with instant access to their earnings and digital banking experience allowing them to focus financially rather than having to depend on the traditional banking system, payday loans, overdraft and credit cards. The firm operates in Canada, United States and Mexico. Its wholly owned subsidiaries include Payfare International Inc. and Payfare Mexico Inc. S.A. de C.V.

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PAY
S&P TSX Composite Index (Canada)

Earnings Calls

2024 Q3
Nov 6, 2024
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Payfare Navigates Contract Loss while Pursuing Growth Opportunities
2024 Q3
Nov 6, 2024

In its latest earnings call, Payfare announced disappointment over the nonrenewal of its DoorDash contract, emphasizing productive negotiations to enhance features. Despite this setback, the company expects revenue between $50 million to $60 million for 2025, excluding DoorDash contributions. The transition from DoorDash remains unresolved, but discussions are ongoing. Payfare aims to alleviate concentration risk through a strategic review, exploring acquisitions, partnerships, and new revenue streams. Active gig economy opportunities are under review, with potential to offset DoorDash's impact. Meanwhile, programs with Uber and Lyft show strong user growth, indicating resilience and future growth potential.

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Management

Mr. Marco Margiotta
Co-Founder, CEO & Chair of the Board
No Bio Available
Mr. Ryan Charles Deslippe
Co-Founder & Chief Revenue Officer
No Bio Available
Mr. Keith McKenzie
Co-Founder & Director
No Bio Available
Mr. Charles Park
CFO & Corporate Secretary
No Bio Available
Mr. Kamran Haidari
Chief Technology & Data Officer
No Bio Available
Mr. Cihan Tuncay C.F.A.
Head of Investor Relations & Corporate Development
No Bio Available
Su Chun
Chief Compliance Officer & Chief Strategy Officer
No Bio Available
Mr. Mark Lau
Chief Legal Officer
No Bio Available

Contacts

Address
ONTARIO
TORONTO
1 First Canadian Place, 100 King Street West, Suite 1600
Contacts
+14169856272.0
www.payfare.com