Afterpay’s giant leaps

FINTECH Afterpay Touch has boosted earnings and trimmed its full-year loss after rapid growth in its customer base and sales.

The buy now-pay later service provider’s earnings shot up more than five-fold to $33.8 million for the year to June 30, from $6 million the year before as customers numbers grew in Australia, NZ and the US.

Afterpay’s underlying sales increased almost four times to $2.18 billion while the number of customers using the service rose from 800,000 to 2.3 million.

About 17,700 retailers are now signed up.