Affirm Holdings Inc - Class A

Affirm Holdings, Inc. operates a consumer finance platform that provides buy-now-pay-later (BNPL) payment solutions to consumers and merchants across the United States and internationally. The company's platform enables consumers to pay for purchases over time through transparent installment plans, including interest-bearing monthly installment loans, 0% APR monthly installment products, and short-term Pay-in-4 plans. Affirm differentiates itself by never charging late fees or hidden fees. The company generates revenue through merchant network fees, interest income on loans held for investment, gains on sales of loans to third-party investors, and servicing income on off-balance sheet loan portfolios. Affirm distributes its products through direct merchant point-of-sale integrations with major retailers, wallet partnerships with payment platforms, and its direct-to-consumer channel anchored by the Affirm Card — a debit-style card enabling installment payments at any merchant. The company serves 26.8 million active consumers and over 515,000 active merchants, with a total platform portfolio of $18.4 billion in outstanding loans. Affirm funds its loan originations through a diversified mix of warehouse credit facilities, asset-backed securitizations, and forward flow loan sale agreements with approximately 20 institutional buyers. The company is expanding internationally, including into the UK market, and is actively leveraging AI and machine learning across its underwriting, product development, and engineering operations. Updated May 7, 2026