Affirm publicly reveals IPO filing amid buy now, pay later surge - Business Insider

that enable consumers to use microloans to defer their payments on goods they purchase online.

The company reported a net loss of $125.8 million during its latest fiscal year, which ended on June 30, down more than 6% from FY 2019. Affirm's annual revenue increased to $509.5 million, up 93% from $264.4 million year-over-year — total expenses also grew around 67% during the same period to $617.3 million from $391.8 million, according to the filing.

Affirm reported just shy of $174 million in quarterly revenue for Q1 2021, up nearly 98% from $87.9 million during the same quarterly period last year, while net losses dropped by around half to $15.3 million from $30.

Goldman Sachs, Morgan Stanley, Allen & Company, and Barclays are listed among the banks underwriting the offering, through which Affirm said it's expecting to raise $100 million — a likely placeholder number. The startup could seek up to a $10 billion valuation,

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