Sydney based digital gift card provider, Prezzee, is considering a stock-market float as it seeks to capitalise on investor attention in the payments industry.
The global gift market is poised to grow from US$619.2 billion in 2019 to US$2.08 trillion by 2027. CEO Tony Karp says that while Prezzee is cash flow positive, it could look for additional funding to accelerate growth.
“Recent corporate activity, including that involving Afterpay, has obviously got the attention of the board,” he explains.
“Our growth plans can be broadened to include Asia and China and a public company model may assist those outcomes.”
Prezzee is 85 per cent owned by Precision Group, a private property investment and management company led by Australian billionaire Shaun Bonett, with the remainder held by Prezzee’s co-founders and directors.
Karp adds that Prezzee is on track to process more than $1 billion in corporate and retail cards in its 2022 fiscal year, up from about $430 million in 2021.
Prezzee also recently entered a global partnership with Mastercard and is looking to expand into France and Germany. The gifting company recently appointed Deanne Keetelaar as chief customer officer to support Prezzee’s global growth.
“We recognise the strategic and operational leadership needed to continue the successful growth and overall performance  of Prezzee. Deanne’s role will be critical to ensure the ongoing success of our business in AU and NZ markets, as well as to support our global expansion, allowing me to focus on establishing Prezzee as a predominant e-gifting provider and brand in the US and UK, both of which are significant growth opportunities for our company,” explains Karp.
In four years, Prezzee expanded to five countries and experienced a record breaking FY21 with the launch of a second US office and an office in London.
“Prezzee is a product for our time, with our unique focus on a human-interaction approach in an increasingly digital world. We recognised an opportunity in the ecommerce market and we continue to adapt and offer a solution for our customers.
“We work hard and we have big goals including being Australia’s next unicorn. As a company we are coming of age with a significant increase in executive bench strength, and we are on this journey of making magic happen, together,” concludes Karp.
