
The firm’s chief financial officer Michael Linford explained that the decision was taken to reach the profitability figures in the future.
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.
The firm’s chief financial officer Michael Linford explained that the decision was taken to reach the profitability figures in the future.
Sebastian Siemiatkowski, Klarna CEO, made an effort to downplay the impact of the company’s drop in valuation. Siemiatkowski stated the current position is a “testament to the strength of Klarna’s business.”
With the rising inflation and interest rate hikes causing the economic downturns, fintech firms are struggling to survive.