Affirm showed confidence in their quarterly earnings call, saying they were "on track" to reach profitability next year.
Affirm produced a solid earnings report with 48% revenue growth and the company now has more than 17 million active customers
Buy now pay later services are becoming one of the biggest benefactors during the current crisis; consumers have turned to...
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
In this analysis, we want to update the discussion of card networks, money movement, and the potential existential threat — or perhaps evolution — to existing infrastructure. It continues the thread on articles like Is Plaid cheap at $5.3 billion for $500 billion Visa? and Marqeta's $300MM of revenue & Ethereum's $20B in ann. transaction fees highlight opportunity and industry structure, and Who are the customers of Embedded Finance, and what do they reveal about Stripe, Affirm, DriveWealth, and Green Dot?, and more generally in this research section. We map Plaid’s progress in building out a payments ecosystem, and highlight Affirm’s debit card product powered in a novel manner through open banking. The analysis visualizes a likely evolution of the space with the introduction of Web3, and highlights a couple of early symptoms.
Last week we wrote an article highlighting the partnership between Affirm and StubHub which allows for NFL fans to finance...
In this episode we talk with fintech legend, Max Levchin, the co-founder and CEO of Affirm, where he opines on BNPL, why it is better for consumers than credit cards, and how his company has grown into an industry behemoth.
Buy now pay later startups like Affirm have seen a big boost in activity since the crisis began; “We see...
This week’s PeerIQ Weekly Industry Update covers the Fed raising rates by 25 bps, Affirm’s big fundraising and securitization news; PNC announced their new lending pro cuts through their mobile wallet and anticipate it will outperform branch loans; Equifax completed their first Securitization, a $200mn deal backed by lender fee revenues; PeerIQ does a deep analysis on the Sharpe Ratio which helps to gauge risk-adjusted returns. Source.
While on the surface Affirm’s business may appear to be focused on lending and payments, the company can also help merchants in marketing; the company has large amounts of data on who is buying products, what they are buying and where they are buying; with this information they plan to offer their merchants more services in the future; Tearsheet shares more on Affirm’s plans. Source