
With the rising inflation and interest rate hikes causing the economic downturns, fintech firms are struggling to survive.
Affirm is a financial technology services company providing installment loans to consumers at the point of sale.
Affirm is a publicly traded financial technology company headquartered in San Francisco, United States. Founded in 2012, the company operates as a financial lender of installment loans for consumers to use at the point of sale to finance a purchase.
With the rising inflation and interest rate hikes causing the economic downturns, fintech firms are struggling to survive.
During the second quarter of the fiscal year 2022, Affirm reported total revenue of $361.0 million, a 77% increase compared to the same period last year.
Some of the tech firms’ stocks that emerged as giants in their initial public offerings (IPOs) saw a dive as the week started on the 22nd of November.