Last week we wrote an article highlighting the partnership between Affirm and StubHub which allows for NFL fans to finance...
The deal would add to market competition for retail credit, specifically competing directly with Wal-Mart credit cards; Wal-Mart plans to begin a pilot program with Affirm that would offer installment loan plans in select locations and for a targeted group of online customers; source reports that the installment loans will focus on costlier items of $200 or more; with an Affirm partnership, Wal-Mart could seek to reach an expanded market demographic, specifically customers with limited credit histories; Affirm uses alternative underwriting methods and its loans average approximately $750 with repayment periods of three to 24 months and fixed annual percentage rates ranging from 10% to 30%. Source
Rob Pfeifer has been appointed to chief risk officer at Affirm; was previously chief financial officer; Pfeifer has been with Affirm since March 2013; prior to Affirm, Pfeifer worked in various financial analysis roles; he has extensive experience in forecasting, reporting and deal transactions.
There is a growing competition brewing in the payments space and Affirm is look to stay near the top as they recently announced the move into financing small ticket purchases; the move comes after Visa and MasterCard made similar announcements; the payments space has become a highly competitive market where customers look for the simplest, most transparent way to make a purchase of any size. Source.
Affirm's earnings were fantastic. This continued the trend of publicly traded fintech companies breaking records for revenue and profitability.
As Ryan wrote last week in an article about an industry-wide push into online retail point-of-sale financing, Affirm is changing...
US online lender Affirm has announced its 1 millionth consumer installment loan; the platform works with Cross River Bank for loan originations and partners with retailers to offer its credit financing solution; the firm is managed by Pay Pal co-founder Max Levchin and has also announced it will be moving its San Francisco headquarters to 650 California Street with 86,225 square feet of office space for the growing company. Source
Affirm has raised $200 million in its latest round led by GIC, a Singaporean sovereign-wealth fund; the valuation of the company is between $1.5 and $2 billion according to sources, which is about double the valuation of the company last year; Khosla Ventures and Spark Capital also participated in the round. Source
Buy now pay later startups like Affirm have seen a big boost in activity since the crisis began; “We see...
Affirm has become one of the hottest fintech firms out there as buy now pay later has been one of...