MIAMI, FL / ACCESSWIRE / January 18, 2024 / EzPag, provider of lease-to-own financing for the latest cell phones, today announces that they have reached some major milestones in both customer acquisition and revenue. In their first 8 months of operation, EzPag finished the year of 2023 with over 1200 active customers, many of them for multiple equipment leases. Some customers have multiple devices leases in one initial transaction, but many of them became return customers and referred EzPag to their friends and family. EzPag has also surpassed expectations for Annual Recurring Revenue (ARR), achieving the first $3 million line for the books in 2023. This reflects steady growth in business since they began operations eight months ago (April). The EzPag family of employees has grown as well, with over 30 team members and more to come in 2024.
After less than a year in operation, the investors felt confident that EzPag will continue to grow. The company has continued its track record of success, with more to come. Company leadership projects that if current growth continues, they will reach $25 million in Annual Return Revenue. They also predict it will lead to a roster of 12,000 active customers. Part of the reason for the growth so far has been the over 60,000 leads they received in 2023 and have a goal of over 600,000 in 2024. Achieving this success has been possible because of impressive lead generation strategies with the immigrant population and social media has been delivering amazing results.
EzPag Co-Founder and CEO Matheus Freire is very pleased with where the company is headed, "It is extremely gratifying to see how the US market has responded to our offerings. This growth has allowed us to innovate and introduce new products. But more importantly, it has allowed us to help the immigrant community get access to the latest phones and technology. At first, we had to work hard to build trust. Now that we have, we can expand into other markets and support more communities. Our company can also begin an initiative to reach out to government agencies and non-profits to see how we can help their populations."
Co- founder Lucas Paiva is grateful for the growth this year, "Establishing EzPag stemmed from a personal experience and an unmet market need. As an immigrant, I repeatedly faced difficulties in
obtaining credit, despite a consistent history of on-time bill payments. I realized there was an unfounded stigma about immigrants being poor payers. This motivated me to create a solution that would challenge this prejudice."
"EzPag was founded with the goal of demonstrating the creditworthiness of immigrants, providing them with credit opportunities equivalent to those of American citizens. Our innovative approach has shown remarkable results. Today, we pride ourselves on a significantly lower default rate compared to companies that do not serve undocumented individuals. This success not only reaffirms the financial integrity of immigrants but also materializes the dream of equal opportunities in accessing credit."
ABOUT EZPAG
Founded in January 2023 by friends Matheus Freire and Lucas Paiva, EzPag was born with the mission of facilitating access to iPhones and other electronic devices to immigrants or people who do not have complete documents. The company began testing its services in March and made their first sale in April of 2023. Their core values include a sense of community, sustainability, flexibility, transparency, and accessibility. By serving the immigrant community, they uphold their belief in diversity and inclusion. By offering refurbished devices in addition to new, they keep electronics from ending up in a landfill and damaging the environment. EzPag offers a wide range of flexible payment options and price points to meet every need. They are transparent about every interaction with their customers and business partners. Their main goal of access to financing for everyone means opportunities for some that have previously been left behind.
Their customers may not be able to buy the latest iPhones or other electronic devices in cash or have access to the credit to finance that purchase. EzPag offers flexible payment options and a simple, accessible buying process. They value equal opportunities and by providing easy access to these products are contributing to digital inclusion and a more equal future for people new to this country. In addition, each device they finance is fully insured by Akko and protected against theft, defects in parts and/or batteries, accidental damages, broken screens, and any damage caused by liquids.
CONTACT: Matheus Freire
PHONE: (786) 882-7912
EMAIL: [email protected]
SOURCE: EzPag