10-Q, Member Exclusive

How Affirm is reinventing its approach, and where the firm sees potential for more growth

  • We delve into some of the recent behind-the-scenes strategies that the firm has likely been and continues to be mindful of, contributing to its successful quarter.
  • The Affirm card, addressing technological hurdles and upgrades, along with a focus on inclusive hiring practices, appears to be hitting all the right notes for Affirm's progression.
close

Email a Friend

How Affirm is reinventing its approach, and where the firm sees potential for more growth

    Love them or loathe them, Buy Now, Pay Later [BNPL] services have cemented their presence in the modern financial landscape. Despite the outcry over its regulation and the growing burden of consumer debts, it’s the ‘consumers‘ who are propelling its momentum forward. 

    In fact, Buy Now, Pay Later firms are scaling and adopting a multi-product strategy. They’re shifting away from single product and conventional B2B interactions, and instead, focusing on diversifying their product ranges and fostering direct relationships with consumers. This could also suggest that relying solely on the traditional BNPL model may not be adequate and now needs shoring up, especially considering the increasing cost of capital for non-bank lenders and fintechs — or simply establishing a safety net around the business.

    Affirm presents a similar scenario. Expanding its scope beyond lending, BNPL options with various installment plans, Point of Sale (POS) integration at checkout, Affirm also offers savings accounts, a virtual card, and its own Affirm card.

    Wednesday saw the release of Affirm’s earnings report for the quarter ending March 2024. Affirm substantially increased its revenue, growing 51% YoY to $576 million, exceeding expectations. This surge was largely attributed to a strong focus on the Affirm card and positive metrics in gross merchandise volume [GMV] that saw a 36% uptick.

    “This is the fourth consecutive quarter of accelerating GMV growth for Affirm,” said CEO Max Levchin in the shareholder letter.

    While these figures were indeed reported, we delve into some of the recent behind-the-scenes strategies that the firm has likely been and continues to be mindful of, contributing to its successful quarter.

    1) Affirm Card: How has it fared over the quarter?

    …….


    subscription wall for TS Pro

    0 comments on “How Affirm is reinventing its approach, and where the firm sees potential for more growth”

    10-Q, Member Exclusive

    Is AI your new work buddy or your pink slip in disguise? WEF 2025 Davos has thoughts

    • This year at WEF Davos, AI was practically the event’s co-host, sharing the spotlight with American politics.
    • AI can be a force for good or bad, but instead of focusing solely on job loss, the finance industry can view it through a wider lens.
    Sara Khairi | February 03, 2025
    10-Q, Member Exclusive

    Inside the mind of Wise’s New Commercial Director for North America and her ambitious plans

    • Wise Platform has appointed Lauren Langbridge as its new Commercial Director for North America.
    • Lauren shares her career journey, vision for Wise, and transition to leading a public company in North America.
    Sara Khairi | January 27, 2025
    10-Q, Member Exclusive

    Big Banks, Big Bucks: After a mic-drop Q4 2024, what’s on the menu for Q1 2025?

    • Big banks made a splash last week with their strong Q4 2024 earnings.
    • To keep the earnings streak alive in Q1 2025, FIs might need to refine their strategies — here’s what they could focus on.
    Sara Khairi | January 20, 2025
    Banking, Green Finance, Member Exclusive, The Quarterly Review

    The Quarterly Review: Citizen’s Rachel Mattes Greenberg on how her team is sprinting to success in order to meet the bank’s $50 billion Sustainable Finance target

    • In April, Citizens' Head of Sustainability Rachel Mattes Greenberg, told me that she and her team were hard at work ensuring the bank meets its $50 billion in Sustainable Finance Target.
    • Her strategy involved launching two ESG reports and helping Citizens' bankers engage high-emitting clients in conversation about sustainability. Now she is here to report how these efforts panned out and where she is expecting to go next.
    Rabab Ahsan | January 14, 2025
    10-Q, Member Exclusive

    The calendar flipped, and so did the market trends

    • 2025 Market Trends Alert: The 2025 IPO scene is heating up, with AI set for another stellar year and Web3 hinting at a strong comeback.
    • We take a moment to see what’s taking shape in each of these areas.
    Sara Khairi | January 13, 2025
    More Articles