April 30, 2021 at 07:21PM

Sezzle plans to file a registration statement with the Securities and Exchange Commission (SEC) for a potential U.S. initial public offering (IPO), according to a Friday (April 30) announcement from the buy now, pay later (BNPL) company.

“The timing, number of shares of common stock to be offered, use of proceeds and the price for the proposed initial public offering have not yet been determined,” Sezzle said in the announcement.

In terms of the company’s earnings, which were also released on Friday (April 30), Sezzle said that nearly 400,000 active consumers were added during the first quarter of 2021, bringing the total to more than 2.6 million active consumers. The firm also reported that the top 10 percent of its clients, on average, now transact 49 times per year.

Sezzle added more than 7,300 active merchants in the quarter, marking the “largest quarterly increase in the company’s history,” according to an earnings release, which noted that there are now more than 34,000 active merchants on the platform.

The firm reported that underlying merchant sales (UMS) for the first quarter of 2021 jumped by 214.1 percent year over year to $375.1 million.

“The strong momentum we ended 2020 with has continued into 2021. Our 1Q results set new company highs in UMS, active consumers, active merchants and repeat usage. Our monthly UMS in March 2021 was 30 percent greater than December 2020,” Sezzle Executive Chairman and CEO Charlie Youakim said in the earnings announcement.

As for its overall first-quarter 2021 results, Sezzle posted $22.3 million in income for the first quarter of 2021.

The firm recently teamed with global product brokerage company Market America Worldwide to advance payment choices on the Shop.com platform. Other notable merchant additions in 2021 include Wine Chateau, TSC Apparel, Stokes Retail Group, Public Rec, Perfectly Posh, EMERGE Commerce and Bob’s Watches.

On March 30, Sezzle announced it had obtained the certification needed to achieve B Corp status, “joining innovative leaders across the world intent on advancing important environmental, social and economic causes,” according to the earnings announcement.

Sezzle Plans US IPO Amid Growth In Active Merchants, Consumers …

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