Overview
Affirm Holdings, Inc. is a financial technology company that provides a payment network connecting consumers and merchants. Founded in 2012, it describes its mission as delivering honest financial products that improve lives. Its platform combines pay-over-time options at checkout with merchant commerce tools and a consumer app; consumers can also use the Affirm Card to pay in full or over time.[1][2][3]
Affirm operates in the United States, Canada and the United Kingdom, with most of its activity in the United States. For the fiscal year ended June 30, 2025, it reported approximately $3.2 billion in revenue and 2,206 employees, primarily based in the United States.[4][5][6][7] [1][2][3][4][5][6][7]
Products & services
Affirm at Checkout offers individually underwritten pay-over-time loans at participating merchants. Payment options include one to four installments at 0% APR and longer-term monthly installments, which may carry fixed, noncompounding interest. Affirm does not charge late fees. In fiscal 2025, interest-bearing monthly loans represented 72% of gross merchandise volume (GMV), 0% APR installment loans 13%, and shorter-term “Pay-in-X” loans 14%; these figures describe transaction volume, not revenue.[8][9][10][11]
The Affirm Card, available as a physical or virtual card, lets customers pay in full from a linked bank account or use the app to arrange installments for eligible purchases, including conversion of some completed debit transactions into loans. The Affirm app and marketplace provide loan and payment management, personalized merchant offers, and access to a one-time virtual card for online or in-store purchases. The app also offers a savings account provided by Cross River Bank.[12][13][14][15]
For merchants, Affirm provides checkout financing through direct API integrations, along with promotional placements and a dashboard for transaction management and performance analytics. Its technology underwrites and prices individual purchases at the point of sale.[16][17][18][19] [8][9][10][11][12][13][14][15][16][17][18][19]
Geographic presence
Affirm’s platform is broadly available to merchants and eligible consumers in the United States, Canada and the United Kingdom. The company also has operations in Spain and Poland, although it does not facilitate loans in those two countries.[20][21]
In the fiscal year ended June 30, 2025, the United States accounted for $3.105 billion, or approximately 96.3%, of Affirm’s $3.224 billion in revenue. Canada contributed $119.0 million, or approximately 3.7%, and other geographies contributed $0.3 million. Revenue is assigned geographically using the borrower’s billing address or the location of the merchant’s national headquarters; the United Kingdom is not reported separately.[22][23] Affirm’s headquarters are in San Francisco, with additional leased office space in New York, Pittsburgh, Chicago and Toronto. It reported 2,206 employees as of June 30, 2025, primarily located in the United States.[24][7] [20][21][22][23][23][23][23][24][7]
Business segments
Affirm Holdings reports one consolidated operating and reportable segment, rather than separate business segments. Its revenue categories describe different activities within that segment, not independently reported divisions.[25]
In fiscal 2025, interest income from consumer loans accounted for approximately 50% of revenue. Merchant network revenue, primarily fees charged to merchants on transactions processed through Affirm, contributed about 27%; card network revenue, including Affirm’s share of interchange fees, contributed about 7%. Gains on sales of loans to third parties or securitization trusts contributed about 12%, while income from servicing loans for third-party owners contributed about 4%. These percentages are revenue shares, not reported segment contributions.[26][27][28][29][30][31] [25][26][27][28][29][30][31]
Company history
Affirm was founded in 2012 by Max Levchin. It developed a platform that lets consumers pay for purchases in installments.[32][33]
In January 2021, Affirm acquired PayBright, expanding into Canada, and completed its initial public offering, with its shares beginning to trade on Nasdaq on January 13.[34][35][36] Later that year, it expanded its reach through its Shopify partnership and announced a partnership with Amazon.[37][38] By 2023, it had introduced the Affirm Card, extending its installment-payment offering to a physical card.[39] [33][34][35][36][37][38][39][32]
Sources
Continue your research
From company context to financial detail.
Explore original sources and worldwide fundamental financial data and intelligence with Finbar.
Explore Affirm Holdings, Inc. in Finbar ↗