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Affirm savings accounts are held with Cross River Bank, Member FDIC. Alongside this new capital, our latest product is another step towards becoming as ubiquitous as credit cards Affirm is now an even more attractive payment option for everyday wants and needs, Levchin added. The company has been able to price risk with a high level of accuracy and its latest delinquency rate of 1.1% based on a weighted average calculation seems quite attractive. Here are some of the financial highlights revealed in this weeks S-1 filing. But I have briefly reviewed two names that I consider to be reasonable analogs to the kinds of strategies and opportunities I see Affirm pursuing. Looking at Square in terms of an analytical construct is more difficult-partly because Square has 2 very different businesses, and partly because the company has been obliged to change how it reports revenue for one of those businesses. Affirm, a buy now and pay later solution, has closed its Series G round on $500m. The company was founded in 2005 and is based in Stockholm, Sweden. And while consumers rarely have the tools to sift through offers to determine the real cost of credit, the phrase 0% APR is one that resonates and is easy to understand. Affirm partners with over 6,000 merchants in the U.S., helping them grow sales and access new consumers. One of the concepts here is that credit based on a specific asset such as an exercise bike or an airline ticket has a better chance of being repaid than extending credit without any concern about the nature of the purchases. Affirm's latest post-money valuation is from January 2021. Their latest acquisition was Returnly on April 21, 2021. The company offers consumers the option to pay for purchases in installments, rather than all at once. Tala provides digital financial services through its mobile application. The company has apparently created technology that has allowed it to develop a high-yielding, short duration portfolio of credits that is attractive to funding sources. Getting credit instantaneously when an individual wants to buy a TV or a puppy or a Peloton bike resonates enormously with individuals who have inadequate credit limits on their cards, inadequate cash in the bank and are looking for instant gratification. A Delaware stock authorization form stated that Series G shares were sold at a more than 90% discount, "Axios" reports. I imagine that many readers, as well as this author had never heard of Affirm. That said, I think the long-term growth rate for Affirm is likely to exceed that of FOUR. Because I try to compare apples to apples, my approach in terms of calculating revenues and free cash flow margin for FOUR, has been and will continue to use gross revenues less network fees.