AFRM completes acquisition 5/3 & will be back above $90 Soon...
"Affirm Completes Acquisition of Returnly
May 03 2021 - 09:00AM
Business Wire
Affirm Holdings, Inc. (NASDAQ:AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced that it has completed its acquisition of Returnly, a leader in online return experiences and post-purchase payments.
“We are excited to welcome Returnly’s talented team to the Affirm family as we grow our network of consumers and merchants,” said Max Levchin, founder and CEO of Affirm. “We have demonstrated how Affirm can accelerate growth by helping merchants reach new customers and drive conversions. With Returnly, Affirm addresses the full shopping journey by enabling seamless return experiences that drive loyalty and satisfaction.”
Returnly serves more than 1,800 merchants, has helped process more than $1 billion in returns, and has been used by over eight million shoppers.
“Today marks the beginning of a new chapter for Returnly, and we are thrilled to join Affirm,” said Eduardo Vilar, founder and CEO of Returnly, who has become Senior Vice President, Merchant Solutions at Affirm. “As part of Affirm, we will remain focused on delivering instant and easy return experiences while expanding our reach to more merchants and consumers.”
The acquisition is not expected to have a material impact on Affirm’s second half fiscal year 2021 results of operations. Affirm plans to report third quarter fiscal year 2021 financial results after the market closes on Monday, May 10, 2021.
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 credit cards and other pay-over-time options, we show consumers exactly what they will pay up front, never increase that amount, and never charge any late or hidden fees. Follow Affirm on social media: LinkedIn | Instagram | Facebook | Twitter.
About Returnly
Returnly is a leading provider of digital return experiences and post-purchase payments for direct-to-consumer brands. Returnly is the only return solution that lets customers get the right item before returning the wrong one. The result is a world-class shopping experience with an average consumer satisfaction score (CSAT) of 91%. Returnly takes the product return risk and offers merchants a turn-key solution around its financial technology that includes return management tools as well as hosted and fully brandable end-customer touchpoints like package tracking, online returns and exchanges and Green Returns. To learn more about Returnly’s solutions, please visit www.returnly.com."
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