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Affirm Holdings
Affirm Holdings offers buy-now-pay-later payment plans. Founded by Max Levchin, it provides transparent installment loans with no late fees.
Affirm Holdings
Affirm Holdings was founded in 2012 by Max Levchin, a co-founder of PayPal. The company's mission centers on providing honest financial products with no hidden fees. Affirm went public via an IPO on the Nasdaq in January 2021. Affirm generates revenue primarily through merchant discount fees, with additional income from interest on installment loans. The company partners with over 290,000 merchants, including Amazon, Walmart, and Shopify. Its product suite includes interest-free pay-in-four plans and longer-term loans with disclosed APR. Affirm operates exclusively in the US, with some merchant partners in Canada. As of fiscal year 2025, Affirm reported over 18 million active consumers. The company employs around 3,300 people, with offices in San Francisco, New York, and remote locations. Affirm also operates Affirm Card, a payment card with similar transparent features, launched in 2021. Affirm's structural differentiator is its underwriting model, which uses real-time transaction data to assess creditworthiness at the point of sale. This allows Affirm to approve more consumers than traditional credit models. The company does not charge late fees, a departure from typical credit card practices.
General information
Firm type
other
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
San Francisco
Corporate office
San Francisco, CA, United States
Frequently asked questions
Who runs investment decisions at Affirm Holdings?
Max Levchin serves as CEO and controls strategic direction. Chief Financial Officer Michael Linford oversees capital allocation and fundraising. The board of directors includes Levchin and independent members.
How does Affirm Holdings generate revenue?
Affirm primarily earns through merchant discount fees, which are revenue-sharing arrangements when consumers use its payment plans. The company also receives interest income from longer-term loans with disclosed APRs.
What investment stages does Affirm Holdings typically target?
Affirm is a publicly traded company, not a family office or investment vehicle. It does not target investment stages as an allocator; it focuses on originating consumer loans.
Which sectors does Affirm Holdings explicitly avoid?
Affirm does not operate as an investment firm; it originates loans for consumer purchases across retail, travel, and services. It does not invest in securities or other companies.
Does Affirm Holdings maintain philanthropic structures, and how are they separated?
Affirm has not publicly disclosed a philanthropic foundation. The company does not appear to operate charitable structures separate from its business.
Is Affirm Holdings structured as a single family office or does it operate more like a venture firm?
Affirm Holdings is a publicly traded fintech company. It is not structured as a family office or venture firm. Max Levchin's personal wealth management is separate from Affirm's operations.
What is Affirm Holdings's known posture on co-investments alongside external GPs?
Affirm does not participate in co-investments as an institutional limited partner. Its primary investment activity is originating consumer loans on its own balance sheet.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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