Sezzle Inc. (SEZL): A Bull Case Theory 

We came across a bullish thesis on Sezzle Inc.  on FluentInQuality’s Substack. In this article, we will summarize the bulls’ thesis on SEZL. Sezzle Inc. ‘s share was trading at $86.33 as of October 6th. SEZL’s trailing and forward P/E were 28.35 and 15.60 respectively according to Yahoo Finance.

Sezzle (SEZL) is a North American buy-now, pay-later (BNPL) platform focused on empowering smarter spending through access, transparency, and trust. The company generates revenue primarily from merchant fees on each Sezzle-powered transaction, supplemented by light consumer fees for reschedules or missed payments, affiliate revenue from partner store connections, and merchant analytics and checkout integrations that enhance conversion rates.

Sezzle’s growth engine is driven by its network effects: every transaction strengthens both the merchant and shopper sides, short repayment cycles keep defaults low and cash flow steady, and the platform scales efficiently as new users join without additional infrastructure. Repeat usage fosters habitual engagement, turning Sezzle into a preferred payment solution rather than a one-time tool.

Sezzle differentiates itself with transparent, zero-interest payments and tools like Sezzle Up, which help users build credit responsibly. The company emphasizes mission over margin, focusing on empowering consumers rather than creating indebtedness. Its deep U.S. roots are complemented by an expanding global presence, and its status as a certified B Corp underscores a commitment to ethical, sustainable growth.

Beyond payments, Sezzle opens financial access to younger and underserved consumers while boosting merchant sales through trust and flexibility. By merging fintech innovation with financial wellness, the platform strengthens consumer relationships and merchant partnerships simultaneously. Sezzle is not merely facilitating transactions—it is redefining how people pay, driving merchant growth, and building an inclusive financial ecosystem.

The company’s combination of network effects, ethical positioning, and scalable infrastructure positions it for continued expansion, offering a compelling risk/reward profile for investors seeking exposure to the evolving BNPL sector.

Previously we covered a bullish thesis on Sezzle Inc. (SEZL) by Next’s Substack in May 2025, which highlighted the company’s evolution into a profitable, founder-led BNPL fintech, strong insider alignment, and breakout Q1 2025 performance. The company’s stock price has depreciated approximately by 4.18% since our coverage. This is because the thesis didn’t fully play out. The thesis still stands as Sezzle continues expanding its footprint. FluentInQuality shares a similar perspective but emphasizes Sezzle’s network effects, scalable platform, and mission-driven approach.

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Disclosure: None.