FinTech IPOs are becoming the norm with e-commerce and online payments booming from Covid-led consumer online demand. Affirm specializes in "buy now pay later" solutions. Its system enables consumers to get items today, but pay over time. APRs start at 0% for short 3 month terms and grow to incrementally higher rates with longer repayment terms.
Read the 10 stories to remember from the week which ended January 8, 2021.
Based in San Francisco, SoFi is a leading online lending platform founded in 2011 to tackle the U.S. Student debt crisis through student loan refinancing. In 2011, the average American student had $26,600 in loans, and today the national debt has surpassed the $1.6 trillion mark. SoFi grew into a giant through the innovative marketing and financial practices explored in this article.
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