Peter Gray and Larry Diamond were thinking about setting up shop, the co-founders of digital payments platform Fat Zebra were getting started too.
They have raised money just once from outsiders since starting Fat Zebra in 2012, when they brought on US giant First Data Corp in 2018 in an $8.8 million Series A funding round. First Data has since merged with $US60 billion NASDAQ-listed Fiserv, Inc, which is a 20 per cent shareholder in Fat Zebra.The Australian Financial Review. ”
Revenue is forecast to nearly double to $31.8 million in the 2023 financial year, while pro forma normalised earnings before interest, taxes, depreciation and amortisation will jump more than six-fold to $5.3 million. Fat Zebra hopes to top the $100 million sales mark within two years. Fat Zebra’s customers can collect payments in less than a second. At peak periods such as the Melbourne Cup, Fat Zebra can process 400 transactions per second compared with the big four banks which complete about 250 transactions.
Of the 30-odd staff, half are engineers. Mr Dragila said cyber threats have always been there, long before a recent spate of high-profile companies – such asand Optus – owning up to data breaches. In what was once a closed community of misfits who understood programming languages, there are now forums on how to hack and software that skims for vulnerabilities online which -- Mr Dragila says -- will only lead to more cyberattacks.