The number of users of Allegro Pay on Polish marketplace Allegro.pl has reached 1 million. The company also informed that the value of transactions financed with loans from Allegro Pay was PLN965 ($225 million U.S.) in Q1 of 2022. This is an increase of 440% compared to a similar period last year.
In 2021, the value of transactions facilitated by Allegro Pay exceeded PLN 2 billion ($446 million U.S.). Allegro predicts that this amount will double in 2023 and reach 4 billion Polish zlotys ($892 million U.S.).
Allegro launched Allegro Pay in 2020. The service was at first available to a small segment of Allegro users and gradually rolled out to other users. This process ended in September last year and the platform was announced to be available to all.
Allegro Pay lets Allegro users defer or split payments. The threshold for postponing payments is PLN 30 ($7.8 U.S.). The option to split payments into monthly installments is on any order worth PLN 300 ($78 U.S. ) or more.
Allegro’s FY2021 revenue was PLN 5.4 billion ($1.3 billion U.S.), up from PLN 4 billion in the same period last year. Adjusted EBITDA was PLN 2 billion ($480.8 million U.S.), up from PLN 1.8 billion in FY2020.
As of the end of 2021, Allegro had around 13.5 million active buyers on its marketplace, an increase of 3% from 2020.