Affirm breaks into ABS market with first point of sale deal

Jennifer Kang

July 08, 2020 08:45 PM

Shopping mall 575x375 — Excited shoppers crowd the new Nordstrom Department Store on West 57th Street in Midtown Manhattan in New York on its grand opening day, Thursday, October 24, 2019. The seven-level 320,000 square feet store is heralded as a shot across the bow to those who are proclaiming the death of the department store. The Nordstrom store is the largest free-standing store to open in New York in years and besides thousands of products it has six restaurants. The store is across the street in âNordstrom-villeâ from Nordstromâs Mensâ Store which opened last year. (ÂPhoto by Richard B. Levine) | Richard B. Levine/SIPA USA/PA Images

Affirm became the first fintech point of sale lender to tap the ABS market on Wednesday, in what sources said was a crucial first step towards defining an optimal, scaleable funding structure for the emergent sector.

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Topics

ABS Securitization United States Americas North America

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Jennifer Kang