Sezzle files antitrust lawsuit against Shopify

Sezzle (SEZL) announced that it has filed a lawsuit against Shopify (SHOP) in the U.S. District Court for the District of Minnesota asserting federal and state antitrust violations. The lawsuit alleges that Shopify has been engaging and continues to engage in monopolistic and anticompetitive business practices in order to stifle competition for “buy now, pay later” service options on Shopify’s e-commerce platform. Sezzle is seeking an injunction to prevent Shopify from continuing its anticompetitive conduct that limits consumer choice and stifles fair market competition. The suit filed by the company seeks treble damages. “Sezzle remains committed to fostering a competitive, transparent, and consumer-friendly payments ecosystem,” stated Charlie Youakim, Sezzle Chairman and CEO. “This action is an important step in ensuring that merchants and consumers have access to diverse and innovative payment solutions of their choice.” The company also shared the following business updates: For the first quarter of 2025, revenue associated with gross merchandise volume attributable to Shopify’s e-commerce platform represented less than 5.0% of Sezzle’s total revenue. The company is reaffirming its fiscal 2025 guidance, which was provided in its 1Q25 earnings release on May 7.