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

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Affirm just made its IPO filing public, providing the first detailed look inside the breakout 'buy now, pay later' fintech startup's finances

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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