Afterpay (ASX:APT) is set to expand into Canada

Company News

by Rachael Jones

Afterpay’s (ASX:APT) trading update for the three month period ended 30 June 2020 shows strong performance delivering underlying sales of $11.1 billion in FY20, more than doubling the prior corresponding period, up 112 per cent.

Active customers in the US have now reached 5.6 million while the UK has reached 1 million.

They are planning for expansion into Canada with launch expected in Q1 FY21.

They company today announced its $1.05 billion capital raise, to capitalise on the opportunity to scale globally.

Shares in Afterpay (ASX:APT) are in a trading halt, last traded at $68.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.