On Friday, fintech company Affirm Holdings, Inc
Through its Asset Based Finance platform, Sixth Street will invest up to $4 billion by purchasing Affirm loans in a unique AssetCo structure pursuant to a three-year forward flow agreement.
The transaction represents the most significant capital commitment Affirm has secured to date.
It provides additional off-balance sheet funding, allowing Affirm to extend up to more than $20 billion in loans over the next three years as the company continues to scale its payment network.
In October, SoFi Technologies, Inc
Affirm reported its first-quarter revenue of $698.47 million versus $496.54 million a year ago, which topped the analyst estimate of $664.01 million. EPS loss of 31 cents beat the consensus loss estimate of 35 cents. Affirm expects second-quarter revenue of $770 million and $810 million.
JPMorgan's Reginald L. Smith flagged a $65 billion leap in the fintech sector's market cap since mid-September, backed by third-quarter results, rate cuts, and post-election tailwinds. Smith called Kaspi
Affirm continues to leverage the growing popularity of Buy Now, Pay Later (BNPL) services by strengthening its partnerships with Amazon.com Inc
Smith emphasizes Affirm's robust credit metrics and dependable funding sources as distinguishing factors. The company aims for profitability by fiscal year 2025.
Affirm Holdings stock surged 50% year-to-date. Investors can gain exposure to the stock through Amplify Digital Payments ETF
Price Action: AFRM stock is down 1.31% at $67.87 at last check on Friday.
