Upstart and Affirm Rally, BILL Plummets on Earnings as FinTech IPO Index Adds 2.4%

Market Overview - The stock market has experienced volatility due to the latest inflation report, speculation on Federal Reserve interest rates, and a slowing pace of earnings reports, with the FinTech IPO Index rising by 2.4% over the week [1] BILL Corporation - BILL's shares fell by 36.9% following its earnings report [2] - For fiscal Q2 2025, BILL reported revenue of $362.6 million, a 14$319.6 million [3] - The company projected fiscal Q3 revenue between $352.5 million and$357.5 million, indicating a slower growth rate of 9% to 11% year-over-year, which was below analyst expectations [3] Upstart Holdings - Upstart's shares surged over 29% due to strong loan originations driven by AI and automation, with a notable increase in credit quality [4] - The company generated over 243,000 personal loans, an 89% increase year-over-year, with transaction dollars reaching $2 billion, up 65$8,580, reflecting improvements in the lending model [7] Affirm Holdings - Affirm's stock rose by 28.4% following strong earnings, driven by a robust holiday shopping season and the popularity of buy now, pay later (BNPL) options [7] - Gross merchandise volume (GMV) grew by 35% to $10.1 billion, with 0% APR monthly installment GMV increasing by 70% [8] - Active consumers rose by 23% to 21 million, with transactions per active consumer increasing by 22% year-over-year to 5.3 [8] Paysafe - Paysafe announced the sale of its direct marketing payment processing business, Paysafe Direct, to Kort Payments, which includes various contracts and technology related to the business [10] OneConnect - OneConnect's shares surged by 28.4% after launching its AI Agent Platform, which integrates open-source large language models for banking industry solutions [11][12]