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B4P - Beforepay Group

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Beforepay is a provider of Pay on Demand services in Australia. Beforepay delivers its services via both mobile and web-based applications which syncs in with its customers’ bank accounts, and enables its customers access to a portion of their next pay on demand, make repayments with a degree of flexibility and get access to a suite of budgeting and financial awareness tools. Beforepay’s applications are underpinned by a proprietary technology platform and credit engine

Beforepay generates its revenue through customer fees. In exchange for providing its customers access to a portion of their Pay on Demand, Beforepay charges a fixed fee equivalent to 5% of the Cash Out. Beforepay does not charge its customers interest or late fees.

It is anticipated that B4P will list on the ASX during January 2022.

 

Dona Ferentes

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Listing date17 January 2022 #
Contact detailshttps://www.beforepay.com.au
Principal ActivitiesBeforepay operates in the Pay on Demand industry. Pay on Demand is a relatively new concept, however it appears attractive to potential customers, and has been experiencing rapid growth as customers seek a more flexible and transparent way to manage their personal finances. Companies operating in the Pay on Demand sector provide support to individuals to manage their cashflow by providing rapid access to a proportion of their upcoming pay which can be used for any purpose.
GICS industry groupTBA
Issue PriceAUD 3.41
Issue TypeOrdinary Fully Paid Shares
Security codeB4P
Capital to be Raised$35,000,000
Expected offer close date16 December 2021
UnderwriterE&P Corporate Advisory Pty Ltd and Shaw and Partners Limited (Joint underwriters/Lead Managers).
 
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Beforepay charges a fixed fee equivalent to 5% of the Cash Out. Beforepay does not charge its customers interest or late fees.
And I thought $20 per $1000 cash advance fees on credit cards was poison.... no interest or late fees?
So if I don't pay them back for 10 years, would I be in the clear? 🤐
 

Dona Ferentes

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And I thought $20 per $1000 cash advance fees on credit cards was poison.... no interest or late fees?
So if I don't pay them back for 10 years, would I be in the clear?
I suspect the small print sees you signing your mother over

B4P opened at $2.50 and that was generous; got to $1.905 and now tracking under $2.00. A 40+% drop
 
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Whatever happened to just buy what you can afford to pay for?

I don't know maybe I'm just old fashioned.
 
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