Latest news with #MooreSpecialtyCredit
Globe and Mail
10 hours ago
- Business
- Globe and Mail
Can Strategic Funding Deals Keep Affirm Ahead in the BNPL Space?
Affirm Holdings, Inc. AFRM has extended its long-term capital partnership with Moore Specialty Credit ('MSC'), the private asset-backed finance platform of Moore Capital Management. The renewed agreement, which now runs through May 2027, builds on a relationship that began in 2017. Over the years, Moore has invested almost $5 billion in Affirm's assets, supporting the buy now, pay later ('BNPL') company through forward flow agreements and participation in asset-backed securitizations. This extension marks more than a decade of collaboration and reflects continued confidence in Affirm's lending model. The partnership is financially significant for Affirm, as this ensures reliable, long-term funding to support its growing loan originations. With Moore remaining a key loan buyer, Affirm can consistently convert consumer loans into liquidity, reducing reliance on its balance sheet. This strengthens Affirm's ability to maintain its zero late fee, transparent payment model while continuing to scale. The partnership also enhances Affirm's credibility with other capital providers, potentially improving financing terms and expanding access to future capital. Affirm handled more than $33 billion in gross merchandise volume over the past year, ending March 31, 2025. Its funding capacity reached $23.3 billion, marking nine straight quarters of growth. The company has issued 24 asset-backed securitizations totaling $12.25 billion, backed by a wide range of more than 150 capital partners, highlighting its strong and diversified funding base. Just last week, Affirmdeepened its partnership with PGIM Fixed Income by launching a new $3 billion revolving pass-through loan sale facility. These efforts, spanning both forward flow and revolving loan structures, give Affirm access to diversified, off-balance-sheet funding. This strategic approach helps Affirm grow sustainably, manage risk effectively and continue offering consumers flexible financial products. How PayPal and Block are Expanding in the BNPL Space PayPal Holdings, Inc. PYPL is pushing deeper into the BNPL market with the launch of a physical PayPal Credit Mastercard. This move extends BNPL usage beyond online shopping to in-store purchases. The company is also testing in-store 'Pay Later' options in Germany, part of its broader 'PayPal Everywhere' strategy aimed at increasing adoption across all retail environments. Block, Inc. XYZ is expanding its BNPL footprint through Afterpay by embedding financing options directly into the Cash App. Eligible users can now access instalment payments within the app itself. Afterpay has also strengthened its merchant network with new retail partners such as StitchFix, PetMeds and Mejuri, boosting Block's checkout presence. Affirm's Price Performance, Valuation and Estimates Shares of Affirm have gained 7.8% year to date, underperforming the broader industry but outperforming the S&P 500 Index. Affirm'sYTD Price Performance Image Source: Zacks Investment Research From a valuation standpoint, Affirm trades at a forward price-to-sales ratio of 5.40X, down from the industry average. AFRM carries a Value Score of F. The Zacks Consensus Estimate for Affirm's fiscal 2025 earnings implies a 100.6% improvement year over year, followed by massive growth next year. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PayPal Holdings, Inc. (PYPL): Free Stock Analysis Report Affirm Holdings, Inc. (AFRM): Free Stock Analysis Report Block, Inc. (XYZ): Free Stock Analysis Report
Business Wire
a day ago
- Business
- Business Wire
Affirm and Moore Capital Management extend long-term capital partnership
SAN FRANCISCO--(BUSINESS WIRE)--Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, and the Moore Specialty Credit ("MSC") Platform, the Private Asset Backed Finance ('ABF') platform of Moore Capital Management, LP ('Moore'), a global private investment management firm, today announced an extension of their long-term capital partnership through May 2027. The expansion builds upon Affirm and MSC's longstanding collaboration, which will surpass a decade through their latest forward flow agreement. As Affirm's first loan buyer, Moore has supported Affirm's efforts to increase access to flexible and transparent payment options since 2017 through multiple funding channels and partnerships. "Our deep relationship with Affirm has allowed us to see firsthand their differentiated approach to driving positive credit outcomes,' said Erik Siegel, CIO of the Moore Specialty Credit Platform. 'We look forward to continuing to support Affirm as it continues to generate quality assets that deliver attractive risk-adjusted returns.' Moore has invested nearly $5 billion in Affirm's assets since beginning its capital partnership in 2017. This includes multiple forward flow partnerships with Affirm and supporting the Company's asset-backed securitizations through Moore's Private ABF platform, Moore Specialty Credit. 'We appreciate Moore's long-term support as one of Affirm's earliest capital partners, especially their analytical expertise and thoughtful approach to structuring,' said Brooke Major-Reid, Chief Capital Officer at Affirm. 'The expansion of our collaboration further validates our strategy of investing in foundational relationships as we extend responsible access to credit without any late fees or hidden charges.' Affirm empowers consumers with a transparent and flexible way to pay over time without any late or hidden fees. The company generated over $33 billion in gross merchandise volume (GMV) for the last twelve months ending March 31, 2025. With a diverse and durable funding model across multiple channels, Affirm's total funding capacity grew to $23.3 billion as of March 31, 2025, marking the ninth consecutive quarter that funding capacity increased. As a scaled and programmatic issuer, Affirm has issued 24 asset-backed securitizations totaling $12.25 billion with participation from over 150 unique capital partners across institution types, including: alternative asset managers, insurance companies, pension funds, sovereign wealth funds, hedge funds, and banks. About Affirm Affirm's mission is to deliver honest financial products that improve lives. By building a new kind of payment network—one based on trust, transparency, and putting people first—we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike most credit cards and other pay-over-time options, we never charge any late or hidden fees. Follow Affirm on social media: LinkedIn | Instagram | Facebook | X. About Moore Capital Management Moore Capital Management is the global private investment management firm of Louis Bacon. Moore Capital invests in the public global financial markets and real estate, private lending and private equity markets. AFRM-PA
