Max Levchin's fintech company, Affirm, has officially launched its services in the U.K., expanding from its successful operations in the U.S. and Canada. Affirm offers consumers the ability to split purchases into manageable payments without incurring late fees, a significant advantage in a market where nearly 25% of buy now, pay later users faced late charges in 2023. The company is committed to transparency, providing both interest-free and interest-bearing payment options, with no compounding interest. Each transaction undergoes a thorough underwriting process to ensure consumers can afford their payments, aligning with Affirm's mission to empower individuals in managing their finances. With over 18.7 million active customers and partnerships with major retailers like Amazon and Walmart, Affirm is poised for growth in the U.K. market. The company aims to achieve operating profitability by the fourth quarter of 2025, despite recent stock fluctuations.
Read the full article here.