Shares of Affirm Holdings, Inc. (AFRM) surged 6.7% in the pre-market trading session on Friday. The stock movement followed the news that Sixth Street, a global investment firm, has agreed to invest up to $4 billion in Affirm's loans.
According to the announcement, Sixth Street will purchase a portion of Affirm's loans through a special purpose vehicle. This partnership will provide Affirm with an additional funding source to support its growth and expand its lending capabilities.
The investment from Sixth Street is expected to strengthen Affirm's financial position and enhance its ability to offer buy now, pay later services to more consumers. The deal highlights the increasing investor interest in the rapidly growing buy now, pay later sector.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.