Affirm Holdings

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Affirm Holdings, Inc.
TypePublic company
Founded2012; 10 years ago (2012)
Headquarters650 California Street, ,
Key people
Max Levchin
RevenueIncrease US$870.5 million (2021)
Decrease US$−379.2 million (2021)
Decrease US$−430.9 million (2021)
Total assetsIncrease US$4.9 billion (2021)
Total equityIncrease US$2.6 billion (2021)
Number of employees
2,071 (Dec 2021)
Footnotes / references

Affirm is a publicly traded financial technology company headquartered in San Francisco, United States.[3] Founded in 2012, the company operates as a financial lender of installment loans for consumers to use at the point of sale to finance a purchase.[4][5]

History and founding[edit]

Affirm was founded in 2012 by Max Levchin, Nathan Gettings, Jeffrey Kaditz, and Alex Rampell[6][7][8] as part of the initial portfolio of startup studio HVF.[9] Levchin, who co-founded PayPal, became CEO of Affirm in 2014.[10]

In October 2017, the company launched a consumer app that allowed loans for purchases at any retailer.[11]

The company announced a partnership with Walmart in February 2019. Under the partnership, Affirm is available to customers in-store and on the Walmart website.[12][13]

Affirm has partnered with e-commerce platforms including Shopify,[6] BigCommerce, and Zen-Cart.[14]

On November 18, 2020, Affirm filed with the Securities and Exchange Commission in preparation for an initial public offering (IPO).[15] On December 12, 2020, it was reported that Affirm had postponed its IPO.[16] On January 13, 2021, Affirm became listed on NASDAQ with symbol AFRM, raising about $1.2 billion in its IPO.[17] By the next day, the price of shares had doubled, making Levchin's stake worth about $2.5 billion.[18]

In May 2021, Affirm acquired Returnly, a financial technology service company, for $300 million.[19][20]

Affirm is Amazon's exclusive buy now, pay later partner in the United States through January 2023.[21]

In May 2022, Affirm signed a partnership with the financial infrastructure firm Stripe, Inc. to make its adaptive checkout service available to Stripe users in the US.[22]


  1. ^ "Affirm Holdings Form 10-K". U.S. Securities and Exchange Commission. September 17, 2021.
  2. ^ "Affirm Holdings Form 10-Q". U.S. Securities and Exchange Commission. 2022-02-14.
  3. ^ "Affirm, Inc.: Private Company Information - Bloomberg". Retrieved 2019-05-08.
  4. ^ "Affirm: Most Innovative Company". Fast Company. Retrieved 2019-03-24.
  5. ^ ""Buy now, pay later": Critics concerned about new online payment plans". December 11, 2018. Retrieved 2019-05-08.
  6. ^ a b Kokalitcheva, Kia (October 27, 2015). "Lending company Affirm takes on bricks and mortar shopping". Fortune. Retrieved 2019-03-24.
  7. ^ Friedman, Zack (May 5, 2017). "Is PayPal Co-Founder Max Levchin Making The Next Credit Card Killer?". Forbes. Retrieved 2019-05-08.
  8. ^ "Analytics and Software". Founders Fund. Retrieved 2020-08-03.
  9. ^ MacMillan, Douglas (2014-06-09). "PayPal Co-Founder Max Levchin Raises $45 Million for Startup Affirm". WSJ. Retrieved 2019-03-24.
  10. ^ D'Onfro, Jillian. "PayPal Cofounder Max Levchin Is The New CEO Of A Finance Startup That Has Quietly Raised $45 Million". Business Insider. Retrieved 2019-03-24.
  11. ^ Cagle, Susie (2017-11-29). "Would You Take Out a Loan for a Pair of Jeans?". Racked. Retrieved 2019-03-24.
  12. ^ Wack, Kevin (February 27, 2019). "Walmart teams with Affirm to offer point-of-sale loans". American Banker. Retrieved 2019-03-24.
  13. ^ "Affirm's latest partnership brings its alternative financing to Walmart's US stores and website". TechCrunch. Retrieved 2019-05-08.
  14. ^ "Affirm Supports Four More eCommerce Platforms". 2016-11-30. Retrieved 2019-03-24.
  15. ^ Alex Wilhelm, Natasha Mascarenhas (November 18, 2020). "Affirm files to go public: Rising revenue, slimming losses amid an e-commerce boom". Retrieved August 4, 2021.
  16. ^ "Affirm Postpones Its Initial Public Offering - WSJ".
  17. ^ Reuters Staff (January 12, 2021). "Affirm Holdings prices U.S. IPO above target range, raises $1.2 billion". Reuters. Retrieved August 4, 2021.
  18. ^ Jeff Kauflin (February 8, 2021). "Inside The Billion-Dollar Plan To Kill Credit Cards". Forbes. Retrieved August 4, 2021.
  19. ^ "Affirm Completes Acquisition of Returnly". Press release. May 3, 2021. Retrieved August 4, 2021.
  20. ^ "Affirm to Buy Returnly for $300 Million as Ecommerce Returns Spike During the Pandemic". Adweek. April 23, 2021.
  21. ^ "Affirm expands Amazon partnership as buy now, pay later surge lifts revenue". Reuters. Retrieved November 11, 2021.
  22. ^ Lang, Hannah (2022-05-31). "Affirm partners with Stripe to expand offering of buy now, pay later services". Reuters. Archived from the original on 2022-05-31.

External links[edit]