Fintech stocks garnered significant investor attention during the height of the COVID-19 pandemic. Affirm Holdings, Inc. (AFRM) was one of the beneficiaries in the industry, as it witnessed tremendous revenue growth and record gross margins.
AFRM provides digital and mobile commerce platforms by enabling a technology-driven payments network through partnerships with banks. A consumer can use the company’s platform by selecting their repayment option while the loans are funded and issued by its bank partner. Its platform has three elements: a point-of-sale payment solution, merchant commerce solutions, and consumer-focused applications.
