The best shares in the buy now, pay later sector are wriggling higher today despite there being little material news for investors to act on.
In the early afternoon Afterpay Touch Group Ltd (ASX: APT) is up 4.3% to $24.56, Z1P Co. Ltd (ASX: Z1P) is up 10 cents to 0r 3.5% to $3.06, while North American focused challenger Sezzle Ltd (ASX: SZL) is up 3.9% to $2.40.
This week Sezzle announced its launch into the large Canadian retail market and it already has 5,048 active merchants across 12 countries and 429,898 active customers in the U.S. mainly.
Sezzle has a marquee client in youth fashion and sportswear business Kappa to start its Canadian push and recently raised around $43 million from Australian investors via its June 2019 listing to help if fund its growth push.
Last week Afterpay also reported it now has 2 million shoppers signed up in the US and some 6,500 retailers. According to Afterpay this represents around 10% of the total beauty and fashion industry online retailers in the US.
Afterpay is due to hand in its full year results later this month, with September 24 the date pencilled in for delivery of an interim auditor’s report on its compliance with its anti-money laundering obligations.
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Tom Richardson owns shares of AFTERPAY T FPO.
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The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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