1/n $FTOC
- 9% YoY rev growth (31% ex two travel marketplace expenses)
- 53% GMV growth YoY
Pursuing growth through strategic M&A and an expansive ecosystem. They also have an attractive biz model with strong unit economics stemming from a cradle to grave suite of products.
- 9% YoY rev growth (31% ex two travel marketplace expenses)
- 53% GMV growth YoY
Pursuing growth through strategic M&A and an expansive ecosystem. They also have an attractive biz model with strong unit economics stemming from a cradle to grave suite of products.
2/n
They capitalise on their key network effects, leverage their technology and localised capabilities to further promote eCommerce adoption/ globalisation.
They are at the epicentre of eCommerce and global payments network between emerging markets & developing worlds.
They capitalise on their key network effects, leverage their technology and localised capabilities to further promote eCommerce adoption/ globalisation.
They are at the epicentre of eCommerce and global payments network between emerging markets & developing worlds.
3/n
Despite all the structural tailwinds, I still identify some risks within the business.
1. Lowering take rate
2. Poor YoY rev growth in the most accommodative macro environment for payments adoption.
3. Transaction costs % growth matches rev % growth between 20’ to 22’
Despite all the structural tailwinds, I still identify some risks within the business.
1. Lowering take rate
2. Poor YoY rev growth in the most accommodative macro environment for payments adoption.
3. Transaction costs % growth matches rev % growth between 20’ to 22’
4/n
4. Operating losses continue to grow strongly into 22’.
Hyper growth companies are usually loss making, no doubt. However i’m not convinced on the true scalability of this platform if losses/costs grow without tapering.
Might be myopic in my viewpoint here, who knows.
4. Operating losses continue to grow strongly into 22’.
Hyper growth companies are usually loss making, no doubt. However i’m not convinced on the true scalability of this platform if losses/costs grow without tapering.
Might be myopic in my viewpoint here, who knows.
Anyone know a good thread or analysis on $FTOC?
@mukund I remember reading that you are quite bullish on Payoneer. What are your thoughts on the risks attached with the company?
@mukund I remember reading that you are quite bullish on Payoneer. What are your thoughts on the risks attached with the company?