Afterpay powers up

SHARES in buy-now-paylater provider Afterpay Touch Group were on a tear yeterday after the company announced it had signed up 300,000 consumers in the US in less than six months.

The company’s (APT) share price surged as much up 13 per cent in morning trade after it updated the market yesterday morning indicating it was performing strongly in the US, despite still being “early days”.

Afterpay said it has notched over $115 million in underlying sales in the US by the end of October from over 300,000 consumers and 900 retailers.