RB 40/2024
The Management Board of PragmaGO S.A. (“Issuer”) presents estimated results in terms of turnover and number of customers served for Q2 2024 and the first half of 2024.
Turnover (nominal value of financed receivables) in Q2 2023 amounted to PLN 611 million (up 25% y/y), of which PLN 493 million went to factoring (up 18% y/y) and PLN 117 million to digital loans (up 66% y/y). Factoring was used by 1,298 customers and loans by 9,250 unique companies.
Digital factoring continues its rapid growth (+15% y/y, PLN 263 million turnover). Digital factoring accounted for 53% of factoring turnover. The service allows financing of invoices in a fixed contract, the parameters of which the customer can adjust online.
Embedded finance services (which are distributed through automated technical integration with partners) generated turnover of PLN 161 million in Q2 2024 (up 47% y/y), benefiting 9,559 entrepreneurs (up 16% y/y), including:
– The Merchant Cash Advance service (revenue advance for online and offline merchants) was used by 1,484 entrepreneurs (up 79% y/y), who received financing worth PLN 61 million (up 121% y/y),
– The BNPL service (B2B deferred payments) was used by 8,032 entrepreneurs (up 9% y/y), who received financing worth PLN 56 million (up 31% y/y).
In Q2 2024, PragmaGO services were used by 10,521 businesses (up 17% y/y), which completed 106,923 transactions (up 4% y/y).
In Q1-Q2 2024, PragmaGO’s total turnover (nominal value of financed receivables) was PLN 1.15 billion (up 25% year-on-year).
Factoring generated PLN 924 million (up 16% y/y). Digital factoring turnover increased by as much as 29% y/y (PLN 498 million). Digital factoring accounted for 54% of total factoring turnover. Traditional factoring grew by 5% y/y and reached PLN 426 million.
Factoring was used by 1,756 customers, while digital loans were used by 12,156 companies. Digital loans accounted for PLN 227 million in turnover (up 80% year-on-year).
Embedded finance products achieved a turnover of PLN 305 million (up 49% y/y), including:
– the Merchant Cash Advance service was used by 2,185 entrepreneurs (up 95% y/y), who received financing worth PLN 113 million (up 132% y/y),
– the BNPL service (B2B deferred payments) was used by 10,395 entrepreneurs (up 8% y/y), who received financing worth PLN 112 million (up 44% y/y).
During the first half of 2024, PragmaGO served 13,872 entrepreneurs (up 18% y/y). They completed 208,878 transactions (up 7% y/y).
Legal basis – Article 17 (1) of Regulation (EU) No. 596/2014 of the European Parliament and of the Council (MAR).