Affirm founder: We want to be the modern American Express

Published On Sep 12, 2024, 6:16 PM

Affirm's CEO Max Levchin aims to position the company as a contemporary alternative to American Express, offering a payment system that focuses on transparency, no late fees, and consumer-friendly practices. Since its public debut in January 2021, Affirm has experienced significant stock volatility but has recently seen a rebound, with shares climbing back above $40 after reaching a record low. The company's revenue grew 46% year-over-year to $2.3 billion, and Levchin anticipates profitability by the end of this fiscal year. Analysts are optimistic, with some rating Affirm's stock as a buy, emphasizing its potential to expand its market share in the payments industry.