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PaySauce says high interest rates a ‘double-edged sword’

Payroll software company’s SME customers suffering as cost of capital rises.

PaySauce founder and CEO Asantha Wijeyeratne.

Will Mace Wed, 22 Nov 2023
Key points
  • Revenue: Up 40% to $3.6m. 
  • Profit: Loss of $267,000, narrowed 37% from loss of $425,000. 
  • Main takeaway: The company saw growth despite challenging conditions, with its small business customers struggling to cope amidst high interest rates and cost of capital. 

High interest rates are a double-edged sword for NZX-listed payroll software-as-a-service company PaySauce: they boost the revenue it earns from funds held on account for its customers, but they also mean its small and micro-business customer base is feeling the pinch.

PaySauce provides New

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Key points
  • Revenue: Up 40% to $3.6m. 
  • Profit: Loss of $267,000, narrowed 37% from loss of $425,000. 
  • Main takeaway: The company saw growth despite challenging conditions, with its small business customers struggling to cope amidst high interest rates and cost of capital. 
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PaySauce says high interest rates a ‘double-edged sword’
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