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Afterpay’s valuation is nuts – but its growth is impressive – The Australian Financial Review

The hype around Afterpay’s share price overshadows rational discussion of its actual business. Which is a shame, because it is growing very nicely.

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Which is a shame, because theres something fascinating happening in the way Eisen and Molnar are balancing growth and sustainability.
Afterpay had already told the market it grew underlying sales by 112 per cent to $1.1 billion in the years to June 30, with active customers soaring 116 per cent to 9.9 million.
But this rate of growth deserves acknowledgment. While theres no industry with lower barriers to entry than lending money, adding 20,500 customers a day, as Afterpay did in the June quar…

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