PaySauce delivers strong growth with total recurring revenue up 96%

The number of employees in New Zealand being paid through PaySauce payroll software increased by 114% to 13,349 people.

SaaS employment solutions provider PaySauce (NZX: PYS) continues to deliver strong year-on-year growth, with total recurring revenue up 96% for Q4 2019. The number of employees in New Zealand being paid through PaySauce payroll software increased by 114% to 13,349 people. The number of payslips issued grew 106% to 98,443, and total employers processing pays through PaySauce payroll increased by 108% to 2,434. The gross payroll value processed by PaySauce for the quarter totaled $160.3 million, an increase of 120%.

CEO and co-founder of PaySauce, Asantha Wijeyeratne, reflects on the quarter: "It's safe to say we ended the year on a high note, being named by Deloitte as one of the fastest-growing tech companies in the Asia-Pacific region, and hitting another milestone of $2M ARR based on December monthly revenue. While the majority of our customers come from the agriculture sector, this quarter has seen our customer base diversify across a range of rural industries. We're really excited to be heading into 2020 with a renewed focus on partnerships and customer experience."