affirm

Affirm’s head of product Vishal Kapoor discusses buy now, play later in a debit card, and how that’s setting Affirm apart from competitors.

Affirm’s head of product discusses its new approach to buy now, pay later

Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. If you want to receive The Interchange directly in your inbox every…

Klarna’s and Affirm’s very good week

Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. Better.com finally went public last week, and the stock’s performance was worse…

Better.com’s public market debut was Miserable.com

Affirm has become the first buy now, pay later player to be added to Amazon Pay, the two companies announced today. As part of the new partnership, any Amazon Pay merchants…

Amazon Pay taps Affirm to be its first buy now, pay later player in the US

As inflation and interest rates climbed, consumer-focused BNPL players have struggled with increased defaults amid less discretionary spending.

Is this the end of the BNPL boom?

Featured Article

Affirm’s stock plunges as it misses earnings, cuts 500 jobs and shutters crypto unit

Citing economic turbulence, buy now, pay later giant Affirm announced today that it is reducing its staff by 19%, or about 500 employees, and shutting down its crypto unit. That leaves the company with about 2,000 employees. In a written statement, founder and CEO Max Levchin said that he takes “full responsibility for this decision…

2:13 pm PST • February 8, 2023
Affirm’s stock plunges as it misses earnings, cuts 500 jobs and shutters crypto unit

Silvija Martincevic, former chief commercial officer of Affirm, one of the U.S.’s biggest buy now, pay later startups, has been appointed to CEO of shift work management platform Deputy. Based…

Former Affirm exec Silvija Martincevic to lead shift work management platform Deputy

Featured Article

Klarna, Affirm show how expensive fintech growth can be

Why are Klarna and Affirm worth as much as they are, given that they are unprofitable, cash-consuming businesses seemingly unable to generate corporate net income off of consumer lending despite a presumed tech advantage?

10:30 am PDT • August 31, 2022
Klarna, Affirm show how expensive fintech growth can be

Klarna’s announcement that its long-expected funding round has come to a close brought with it one of the steepest valuation resets in memory, at least as far as operating businesses…

Now that Klarna has a new valuation, is Affirm cheap?

The Wall Street Journal recently reported that Klarna, a European buy now, pay later (BNPL) provider, is considering raising capital at a valuation of around $15 billion. The new figure…

Klarna’s potential valuation cut to $15B appears sufficiently steep

After Apple shook up the buy now, pay later market with news that it would now be a competitor to established firms, PayPal this morning is introducing another buy now,…

PayPal expands its ‘pay later’ options with a more flexible ‘PayPal Pay Monthly’ service

Featured Article

Apple enters the BNPL market as regulation, competition intensify

How will all of these BNPL-focused providers fare with Apple pounding its way into their market?

7:00 am PDT • June 11, 2022
Apple enters the BNPL market as regulation, competition intensify

The news that Apple would offer its own “buy now, pay later” service splitting any Apple Pay bill into installments hit the fintech lending world like a thunderbolt. But it…

Apple’s Pay Later installment credit scheme will live under a new lending subsidiary

You might think that the substance of what Apple announces matters to folks buying and selling its shares on any given day, but it mostly doesn’t.

The stock-market impact of Apple’s WWDC keynote

Welcome to The Interchange, a take on this week’s fintech news and trends. To get this in your inbox, subscribe here. Buy now, pay later has become nearly ubiquitous here…

Affirm and Klarna ramp up competing efforts to attract US consumers

Two fintech giants are partnering up. Affirm is making its buy now, pay later technology available to businesses that use Stripe’s payments tech. This means that a whole slew of…

Affirm teams up with Stripe as the BNPL wars intensify

No one likes a down round. They are dilutive, messy and demoralizing. But they are also miles better than not raising money and dying, so companies raise them when required.

As Klarna looks to raise more capital, is it cutting its valuation enough?
Startups

The BNPL boom may be fading

6:59 am PDT • May 10, 2022

The shocking decline in the value of Upstart and Affirm is only part of the story. There are myriad startups in the BNPL market, meaning that a large piece of…

The BNPL boom may be fading

Walnut was founded by Roshan Patel and Yash Joshi to bring the buy now, pay later model to healthcare, arguably the home of some of the least transparent and taxing…

The BNPL crackdown hasn’t crushed Walnut and its latest $110M Series A

TechCrunch sat down with Libor Michalek, president of technology at Affirm, to understand just how the company differentiates itself from its plethora of competitors.

Affirm’s CTO talks transparency and the tech that makes BNPL possible

The company develops secured loans for motorcycles, cars and trucks so borrowers can improve their income.

Migrante steps on the gas of vehicle leasing for gig workers in Latin America

Growth is good, but like the James Brown song, Klarna is paying the cost to be the boss.

TechCrunch+ roundup: Box unfolds a surprise, robotics pitch tips, BNPL growing pains

The BNPL market appears more expensive and less valuable than it did in mid-2021.

Klarna shows that BNPL growth is not cheap

Is your startup more like Affirm or more like its smaller competitors? And if you are priced more like Affirm, why? Do you deserve the premium?

What’s your BNPL startup really worth?

Should the myriad well-funded BNPL startups see Affirm’s descent as a warning concerning their own efforts or something more company-specific to the U.S. fintech?

Why Affirm’s stock is getting hit, and what the selloff means for the BNPL startup market

Featured Article

Fintech outperformed the market in 2021, and it’s set to do even better

We were bullish on fintech when we launched the Matrix Fintech Index in 2017, but even we underestimated the magnitude of the growth to come.

12:20 pm PST • February 1, 2022
Fintech outperformed the market in 2021, and it’s set to do even better

Credit card companies are seeking to push further into the “buy now, pay later” (BNPL) market. American Express (Amex) announced today that it plans to partner with Opy, the U.S.…

American Express taps Opy for its first US third-party BNPL offering

In observance of the Thanksgiving holiday in the U.S., we won’t be publishing on Thursday, November 25 and Friday, November 26.

TechCrunch+ roundup: Why your title matters, part-time CFOs, Sequoia’s new model

Imprint, a one-year-old startup that offers branded payments and rewards products, today announced a $38 million Series A funding round co-led by Kleiner Perkins and Stripe.  It’s not every day…

Meet Imprint, the fintech that just raised $38M from the likes of Kleiner Perkins, Stripe and Affirm

Featured Article

Lessons we learned from the last week of fintech earnings

Let’s examine a series of winning fintech results from BNPL, consumer finance, proptech and corporate finance before turning to fintech’s earnings misses from Q3 2021.

2:11 pm PST • November 12, 2021
Lessons we learned from the last week of fintech earnings