Affirm to acquire Returnly for c.$300m.

Affirm, an American financial technology company, agreed to acquire Returnly, a firm in online return experiences and post-purchase payments, for c.$300m. The transaction is expected to close in Affirm’s fourth fiscal quarter ending June 30, 2021, and is subject to customary closing conditions. “Store credit, issued before the item is actually returned, is now a practical requirement in highly competitive segments like fashion and lifestyle. We are excited to bring Returnly’s powerful product to our merchants, and we are thrilled to introduce their more than eight million users to the transparent, gotcha-free version of buy-now-pay-later as made possible only by Affirm,” Max Levchin, Affirm CEO and Founder.