RB 5/2024
The Management Board of PragmaGO S.A. (the “Issuer”) presents estimated results in terms of turnover and number of customers served for the fourth quarter of 2023 and for the whole of 2023.
Turnover (nominal value of financed receivables) in Q4 2023 amounted to PLN 538 million (up 12% y/y), of which PLN 437 million was attributable to factoring (up 4% y/y) and PLN 101 million to digital loans (up 71% y/y). Factoring was used by 954 customers and loans by 8,781 unique companies.
Embedded finance services (partnership model: embedding financial services into partners’ ecosystems) generated in Q4 2023. turnover of PLN 137 million (up 34%), benefited
9,061 businesses (up 34% y/y), including:
– 1,198 entrepreneurs used the Merchant Cash Advance service (revenue advance for online and offline merchants) (up 146% y/y), who received financing worth PLN 42 million (up 62% y/y),
– 7,495 entrepreneurs used the BNPL service (B2B deferred payments) (up 24% y/y), who received financing worth PLN 52 million (up 62% y/y).
In Q4 2023, 9,697 entrepreneurs used PragmaGO’s services (up 29% y/y) to complete 100,615 transactions (up 26% y/y).
In Q1-Q4 2023, PragmaGO’s total turnover (nominal value of financed receivables) was PLN 1.97 billion (up 21% y/y).
Factoring generated PLN 1.65 billion (up 12% y/y). Digital factoring turnover increased by as much as 26% y/y (PLN 809 million). Digital factoring accounted for 49% of total factoring turnover (vs. 44% a year earlier). Classic factoring grew 2% y/y and reached PLN 846 million.
The strong growth trend for digital factoring is expected to continue, with as many as 82% of new factoring customers in 2023 using the digital purchase path. In digital factoring, a customer can select a specific solution fully online. During the process, he can customize the parameters of the agreement, learn about and approve the pricing terms. Thus, he can start using factoring from anywhere and at any time – in a 24/7/365 model.
Factoring was used by 1,924 customers, while digital loans were used by 14,927 companies. Digital loans accounted for PLN 317 million in turnover (up 101% y/y).
Embedded finance products achieved a turnover of PLN 467 million (up 49% y/y), including:
Merchant Cash Advance was used by 2,358 businesses (up 267% y/y), which received financing worth PLN 129 million (up 206% y/y), BNPL (B2B deferred payments) was used by 13,298 businesses (up 22% y/y), which received financing worth PLN 184 million (up 76% y/y).
Throughout 2023, PragmaGO served 16,719 entrepreneurs (a 25% increase). They completed 384,158 transactions (up 72% year-on-year).
Legal basis – Article 17 (1) of Regulation (EU) No. 596/2014 of the European Parliament and of the Council (MAR).