Why FlexShopper Stock Is Surging After Hours

FlexShopper Inc FPAY shares are trading higher in Tuesday's after-hours session after the company announced an exclusive long-term marketing relationship with Liberty Tax.

FlexShopper will now be able to offer its consumer loans in Liberty Tax locations across the United States. Liberty Tax has 2,700 locations in the United States and Canada. FlexShopper will also market other financing alternatives, including lease to own and complementary financing products, in the same locations.

"As we have mentioned in our quarter-end conference calls, FlexShopper utilizes its omni-channel lease and loan capabilities to form new exclusive relationships with retailers. By partnering with the corporate and franchisee locations of Liberty Tax, we are also able to market complementary loan products to their customers. The diversity of our platform, coupled with unique sales initiatives, allows us to grow rapidly in the current environment," said Richard House, CEO of FlexShopper.

FlexShopper is a financial technology company that provides brand-name electronics, home furnishings, and other durable goods to consumers on a lease-to-own basis through its e-commerce marketplace.

FPAY Price Action: FlexShopper has a 52-week high of $3.17 and a 52-week low of 82 cents.

The stock was up 23.5% in after hours at $2.01 at time of publication, according to Benzinga Pro.

Photo: StockSnap from Pixabay.