Fintech Lender Affirm Is Poised to Expand in a Higher Rate Environment, CFO Says

Buy-now-pay-later company Affirm Holdings expects demand for its short-term consumer loans to increase if interest rates stay high for an extended period, the company’s finance chief said. 

San Francisco-based Affirm is one of several buy-now-pay-later companies that expanded rapidly during the early days of the pandemic, fueled in part by a rise in e-commerce. But earlier this year, the company was one of many in the technology sector to slash costs, laying off 19% of its workforce, after higher interest rates pinched consumer spending. Affirm, which is hosting an investor forum Tuesday, makes loans to customers at the point of sale, with terms ranging from six weeks to five years.