Shaw and Partners is pleased to be appointed as Joint Lead Manager to the proposed IPO of Beforepay Group Limited.

Beforepay is seeking to raise approximately $35 million at $3.41 per share and intends to list on the ASX under the proposed stock code: ASX:B4P.

At this stage the offer is available to Australian sophisticated and professional investors only.

Beforepay is the first mover and market leader in the ‘Pay On Demand’ market, providing an innovative new product which allows users to access their pay ‘on demand’ for a fixed 5% fee.

Beforepay gives users the flexibility to cover unexpected short-term expenses, with use cases not tied to specific merchants and without tying the user to a revolving debt product.  Importantly, interest does not compound on a Beforepay cash advance promoting responsible and ethical lending practices.

Since commencing operations in August 2020 Beforepay has advanced $170m to its customers. This equates to  ~30% compound monthly growth notwithstanding COVID related lockdowns. The annualised revenue run rate in October was $14m.

For more information about the offer please contact your Shaw and Partners Adviser.