More than 19 million consumers in the US, Canada and the UK use Affirm to finance purchases of goods by using monthly installment loans and short-term buy now, pay later (BNPL) loans. In the 12-month period ended September 30, 2024, Affirm financed $28 billion on its payment network—an increase of 34% from the comparable period a year before. Unlike full-service banks, which can use consumer deposits to fund loans, Affirm and similar companies must seek wholesale funding through capital markets. As of September 30, 2024, Affirm had a total funding capacity of $16.80 billion. Monies com...