Bear Cave issues cautious report on ‘problems’ at Sezzle
Short-seller Edwin Dorsey said in a post to his Bear Cave substack: “Sezzle (SEZL) describes itself as ‘a purpose-driven payments company on a mission to financially empower the next generation.’ Launched in 2017, Sezzle is a Buy Now, Pay Later platform that allows customers to pay for purchases over time, typically in four equal installments every two weeks. Sezzle earns money by charging merchants a percentage of every sale, charging late fees and convenience fees on customer payments, and from subscription offerings. Sezzle’s model appears to be working with the company generating consistent profits and shares up ~1,100% over the last year. The Bear Cave believes Sezzle’s growth and profitability come in part from enabling fraud, consumer scams, and illegal businesses. For example, The Bear Cave believes Sezzle is a leading payment platform for prescription drugs illegally flowing into the United States.”
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