AFFIRM HOLDINGS, INC.

(AFRM)
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Affirm Launches SuperApp and Browser Extension to Bring Consumers More Smart Ways to Shop and Manage Their Finances

01/26/2022 | 09:03am EDT

SuperApp is Ultimate Destination for Consumers to Shop, Pay, Earn and Save

Browser Extension Enables Consumers to Pay with Affirm for Any Online Purchase Via Google Chrome

Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced the launch of two significant additions to its product suite: the Affirm SuperApp and Chrome browser extension. Affirm’s new SuperApp delivers the best of Affirm’s shopping, payments, and financial services in one easy-to-use destination. The new Google Chrome browser extension allows consumers to use Affirm’s flexible and transparent payment solutions at virtually any retailer’s website, even if Affirm isn’t listed as being available at checkout.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220126005254/en/

(Photo: Business Wire)

(Photo: Business Wire)

“We know that consumers want a one-stop shop to manage their finances. Affirm saw this firsthand when we added Savings to our app, which has since attracted more than $300 million in total deposits while driving meaningful engagement,” said Max Levchin, Founder and Chief Executive Officer of Affirm. “By evolving the Affirm app into a super app, we have launched the ultimate destination for consumers to shop their favorite brands and smartly manage their finances, while also delivering a seamless, rewarding, and increasingly personalized experience.”

In the new and improved Affirm app, consumers can:

  • See their Affirm snapshot including how much they might be able to spend, how much cash back they have earned, how much they have saved, and their outstanding payments – on the completely reimagined home screen
  • Shop exclusive offers from their favorite merchants, which are tailored based on their shopping preferences in the app
  • Shop online or in-store by creating a single use Affirm virtual card and entering that card number at online checkout as they would with a regular debit or credit card, or through their mobile wallet in-store
  • Earn cash back rewards by paying upfront at participating merchants, and the opportunity to increase spending limits with positive repayment behavior
  • Manage their Affirm payments and Affirm Savings, whether turning on AutoPay, making payments early, or checking how much they have earned in savings

During the beta period, Affirm saw increased consumer engagement and repeat use of the Affirm app. Consumers can update their Affirm App or download it from the App Store or Google Play store today.

Levchin continued, "We also know that consumers value convenience and increasing Affirm's ubiquity through our browser extension delivers just that. Last year, more than half of U.S. consumers browsing the internet used Google Chrome. Now, each of those consumers can pay-over-time with Affirm – whether buying a new sweatshirt or redecorating their home – almost anywhere they shop online."

To start using the Chrome extension today, consumers can:

  • Download it from the Chrome web store
  • Click the puzzle icon on their browser, then click the thumbtack to pin the Affirm browser extension
  • Login to their existing Affirm account with their phone number, or sign up by entering a few simple pieces of information, including name, email address and birth date
  • Shop their favorite stores online to see how much they're prequalified to spend
  • Request a virtual card through the extension, select an Affirm payment plan, and complete their purchase as they're used to

During the beta period, Affirm found that among existing Affirm users, those using the Affirm Chrome extension were over 30 percent more likely to pay for a purchase with Affirm.

About Affirm
Affirm’s mission is to deliver honest financial products that improve lives. By building a new kind of payment network — one based on trust, transparency and putting people first — we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike credit cards and other pay-over-time options, we show consumers exactly what they will pay up front, never increase that amount, and never charge any late or hidden fees. Payment options through Affirm are subject to eligibility, and are provided by these lending partners: affirm.com/lenders.

Follow Affirm on social media: LinkedIn | Instagram | Facebook | Twitter.

AFRM-F

Payment options through Affirm are subject to eligibility, and are provided by these lending partners: affirm.com/lenders. CA residents: Loans by Affirm Loan Services, LLC are made or arranged pursuant to California Finance Lender license 60DBO-111681.


© Business Wire 2022
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Financials (USD)
Sales 2022 1 340 M - -
Net income 2022 -676 M - -
Net Debt 2022 1 513 M - -
P/E ratio 2022 -10,3x
Yield 2022 -
Capitalization 7 109 M 7 109 M -
EV / Sales 2022 6,43x
EV / Sales 2023 4,64x
Nbr of Employees 2 233
Free-Float 73,6%
Chart AFFIRM HOLDINGS, INC.
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Affirm Holdings, Inc. Technical Analysis Chart | AFRM | US00827B1061 | MarketScreener
Technical analysis trends AFFIRM HOLDINGS, INC.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 24,82 $
Average target price 38,93 $
Spread / Average Target 56,9%
EPS Revisions
Managers and Directors
Max R. Levchin Chairman & Chief Executive Officer
Michael Linford Chief Financial Officer & Secretary
Libor Michalek Director & President-Technology
Jeremy Liew Independent Director
Christa Sober Quarles Independent Director
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