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25th February 2020 zip H1 FY21 HALF YEAR RESULTS TRANSFORMATIONAL HALF , RECORD RESULTS Zip Co Limited ( ASX : Z1P ) ( " Zip " , or the " Company " ) is pleased to announce today its half - year results for the period ending 31 December 2020 . KEY HIGHLIGHTS ( H1 FY21 ) • Completed the acquisition of Buy Now Pay Later ( BNPL ) player Quadpay in August 2020 to accelerate growth in the US . The business has grown TTV > 130 % in the 4 months since completion and has strong momentum in the largest global market opportunity . • Record transaction volume ( TTV ) of $ 2,320.6m , up 141 % YoY ( annualising at $ 7.5b + as at Dec- 2020 ) . • Record revenue of $ 160.0m , up 130 % YoY ( annualising at $ 480m + as at Dec - 20 ) . • • • • The group delivered positive Cash EBTDA in H1 with cash GP margins improving to 54 % demonstrating market leading unit economics whilst investing for global growth . Loan book ( receivables ) recorded $ 1.7b , up 42 % YoY . The addition of Quadpay delivered a step change in unit economics , revenue yield and capital efficiency for the Company - revenue as % of TTV of 6.89 % , gross margin as % of TTV of 3.71 % , revenue yield of 25 % and the blended book is now recycling every 3 months on average . There are now more than 5.7m active customers , up 217 % YoY . • Continue to be regarded as a market leading App - # 1 downloaded BNPL App in Australia in Dec / Jan and # 2 Alt - Credit App in USA during the holiday season . • More than 38.5k merchants across the US , Australia , New Zealand and the UK . • Secured key partnerships with Gamestop , Fanatics , Newegg , Sunglass Hut in the US and Harvey Norman , Domayne and Adore Beauty in Australia . • Launched in the UK in December 2020 with a number of marquee brands including Boohoo , JD Sports , Fanatics , Cotton - On with a strong global pipeline building . • Credit performance continues to deliver market leading results with net bad debts of 1.93 % in Australia demonstrating the strength of Zip's proprietary real - time credit decision technology . • Launched Tap & Zip in Australia reimagining BNPL in - store and became a Visa principal issuer . Enabled a Chrome extension in the US enabling users to pay later on any website . • Zip has appointed Diane Smith - Gander as Chair ( AGL , ex . WES , BRS ) and Pippa Downes as Chair Audit and Risk ( ALE , Infotrack , Ingenia Communities , Australian Super IC ) . 1 App Annie , 2021 .