# Affirm Holdings, Inc.

Summary updated: 2026-10-02T09:11:43.336808Z
Canonical: https://finbar.com/research/companies/affirm-holdings

## Overview

Affirm Holdings, Inc. is a financial technology company that provides a pay-over-time platform connecting consumers and merchants. Its products include installment payment options at checkout, the Affirm Card and the Affirm Marketplace; the company describes its mission as delivering honest financial products that improve lives and was founded in 2012. [1](https://app.finbar.com/go?id=P160780163)[2](https://app.finbar.com/go?id=P160780153)[3](https://app.finbar.com/go?id=P160780165)[4](https://app.finbar.com/go?id=P160780166)[5](https://app.finbar.com/go?id=P160780167)[6](https://app.finbar.com/go?id=P160780147)

Affirm operates in the United States, Canada and the United Kingdom, offering payment solutions through online, in-store and omnichannel merchant experiences. [7](https://app.finbar.com/go?id=P160780269)[8](https://businesshub.affirm.com/hc/en-us/articles/5997808392724-Getting-Started-With-Affirm-Compliance-and-Guidelines) As indicators of scale, it reported approximately 571,000 active merchants at June 30, 2026, and FY2026 total net revenue of approximately $4.26 billion. [9](https://app.finbar.com/go?id=P160780152)[10](https://app.finbar.com/go?id=T18693034)
[1](https://app.finbar.com/go?id=P160780163)[2](https://app.finbar.com/go?id=P160780153)[3](https://app.finbar.com/go?id=P160780165)[4](https://app.finbar.com/go?id=P160780166)[5](https://app.finbar.com/go?id=P160780167)[6](https://app.finbar.com/go?id=P160780147)[7](https://app.finbar.com/go?id=P160780269)[9](https://app.finbar.com/go?id=P160780152)[10](https://app.finbar.com/go?id=T18693034)[8](https://businesshub.affirm.com/hc/en-us/articles/5997808392724-Getting-Started-With-Affirm-Compliance-and-Guidelines)

## Products & services

Affirm’s core checkout product offers consumers pay-over-time loans with repayment options ranging from weeks to years. Offers include Pay-in-X, 0% APR monthly installments, and fixed-interest monthly installments; Affirm describes its approval decision as real-time and says it underwrites each transaction individually. The loans do not compound interest and carry no late fees. [3](https://app.finbar.com/go?id=P160780165)[4](https://app.finbar.com/go?id=P160780166)[11](https://app.finbar.com/go?id=P160780155)[12](https://app.finbar.com/go?id=P160780159)

The Affirm Card is available in physical and virtual forms for online and in-store purchases. Eligible cardholders can pay in full or, through an in-app post-purchase feature, apply for an installment loan on an eligible debit transaction. Affirm’s app and website also provide shopping experiences with personalized merchant offers and featured placements. [5](https://app.finbar.com/go?id=P160780167)[13](https://app.finbar.com/go?id=P160780170)[14](https://app.finbar.com/go?id=P160780178)[15](https://app.finbar.com/go?id=P160781247) The Affirm Money Account is a savings account offered through the app with Cross River Bank; it is described as FDIC-insured and has no minimum deposit or fees. [16](https://app.finbar.com/go?id=P160780171)

For merchants, Affirm provides checkout integrations through direct APIs and platform partners, prequalification, configurable promotional and interest-bearing offers, and a dashboard for managing transactions and accounts and reviewing product performance. [17](https://app.finbar.com/go?id=P160780173)[18](https://app.finbar.com/go?id=P160780174)[19](https://app.finbar.com/go?id=P160780175)[20](https://app.finbar.com/go?id=P160780176)[21](https://app.finbar.com/go?id=P160780177) In FY2026, Affirm’s GMV mix was 16% Pay-in-X loans, 14% 0% APR monthly installment loans, and 70% interest-bearing monthly installment loans; these figures describe GMV, not revenue. [11](https://app.finbar.com/go?id=P160780155)[22](https://app.finbar.com/go?id=P160780156)[23](https://app.finbar.com/go?id=P160780157)[24](https://app.finbar.com/go?id=P160780158)[12](https://app.finbar.com/go?id=P160780159)
[3](https://app.finbar.com/go?id=P160780165)[4](https://app.finbar.com/go?id=P160780166)[11](https://app.finbar.com/go?id=P160780155)[12](https://app.finbar.com/go?id=P160780159)[5](https://app.finbar.com/go?id=P160780167)[13](https://app.finbar.com/go?id=P160780170)[14](https://app.finbar.com/go?id=P160780178)[15](https://app.finbar.com/go?id=P160781247)[16](https://app.finbar.com/go?id=P160780171)[17](https://app.finbar.com/go?id=P160780173)[18](https://app.finbar.com/go?id=P160780174)[19](https://app.finbar.com/go?id=P160780175)[20](https://app.finbar.com/go?id=P160780176)[21](https://app.finbar.com/go?id=P160780177)[22](https://app.finbar.com/go?id=P160780156)[23](https://app.finbar.com/go?id=P160780157)[24](https://app.finbar.com/go?id=P160780158)

## Geographic presence

Affirm’s platform was broadly available in the United States, Canada, and the United Kingdom. It began a limited launch in Australia in FY2027 Q1 and reported plans for further expansion in Australia and continental Europe. Its FY2026 filing does not provide a country-level breakdown of revenue, GMV, or customers. [25](https://app.finbar.com/go?id=P160780226)[26](https://investors.affirm.com/sec-filings/sec-filing/10-k/0001628280-26-059279)

Affirm is headquartered in San Francisco, California, and its FY2026 filing also listed leased offices in New York, Chicago, and Toronto. Its careers page describes the company as remote-first and lists offices in Chicago, New York City, San Francisco, and Toronto, with shared workspaces in Seattle, Warsaw, Madrid, and London. [27](https://app.finbar.com/go?id=P160780704)[26](https://investors.affirm.com/sec-filings/sec-filing/10-k/0001628280-26-059279) [28](https://www.affirm.com/careers)

Geographic concentration in the loan portfolio is distinct from revenue or sales mix: at June 30, 2026, approximately 11% of loan receivables related to consumers in California and approximately 11% to consumers in Texas; no other state or province exceeded 10%. [29](https://app.finbar.com/go?id=P160780991)[26](https://investors.affirm.com/sec-filings/sec-filing/10-k/0001628280-26-059279)
[25](https://app.finbar.com/go?id=P160780226)[26](https://investors.affirm.com/sec-filings/sec-filing/10-k/0001628280-26-059279)[27](https://app.finbar.com/go?id=P160780704)[28](https://www.affirm.com/careers)[29](https://app.finbar.com/go?id=P160780991)[28](https://www.affirm.com/careers)[26](https://investors.affirm.com/sec-filings/sec-filing/10-k/0001628280-26-059279)

## Business segments

Affirm Holdings reports one operating and reportable segment: the consolidated company. It does not report separate business segments, so the revenue categories below are a revenue-source breakdown, not segment contributions. [30](https://app.finbar.com/go?id=P160781759)

For FY2026 (year ended June 30, 2026), approximate shares of total revenue were interest income 48.1%, merchant network revenue 27.0%, gain on sales of loans 14.0%, card network revenue 6.9%, and servicing income 4.1%. Percentages are calculated from the company’s reported revenue amounts and may not sum to exactly 100% due to rounding. [31](https://www.sec.gov/Archives/edgar/data/1820953/000162828026059279/afrm-20260630.htm) Interest income reflects interest on installment loans; merchant network revenue primarily consists of merchant fees; gain on sales relates to certain loans sold to third parties or securitization trusts; and card network revenue is tied to card transactions. [12](https://app.finbar.com/go?id=P160780159)[32](https://app.finbar.com/go?id=P160781237)[33](https://app.finbar.com/go?id=P160781114)[34](https://app.finbar.com/go?id=P160780831)[35](https://app.finbar.com/go?id=P160780841)[15](https://app.finbar.com/go?id=P160781247)
[30](https://app.finbar.com/go?id=P160781759)[12](https://app.finbar.com/go?id=P160780159)[32](https://app.finbar.com/go?id=P160781237)[33](https://app.finbar.com/go?id=P160781114)[34](https://app.finbar.com/go?id=P160780831)[35](https://app.finbar.com/go?id=P160780841)[15](https://app.finbar.com/go?id=P160781247)[31](https://www.sec.gov/Archives/edgar/data/1820953/000162828026059279/afrm-20260630.htm)

## Company history

Affirm was founded in San Francisco on March 14, 2012, by Max Levchin, after originating from his innovation lab, HVF. [36](https://www.affirm.com/business/blog/affirm-decade-history-infographic) [37](https://investors.affirm.com/management/max-levchin) In 2019, it announced an omnichannel installment-payment partnership with Walmart; in 2020, it agreed to power Shopify’s Shop Pay Installments in the United States. [38](https://investors.affirm.com/news-releases/news-release-details/affirm-and-walmart-announce-omnichannel-partnership) [39](https://www.affirm.com/business/blog/affirm-shopify-partner-split-payments)

Affirm agreed to acquire Canadian provider PayBright in December 2020 and completed the acquisition in January 2021. Its shares began trading on Nasdaq under the symbol AFRM on January 13, 2021. [40](https://investors.affirm.com/news-releases/news-release-details/affirm-acquire-paybright-one-canadas-leading-buy-now-pay-later-0/) [41](https://investors.affirm.com/news-releases/news-release-details/affirm-completes-paybright-acquisition/) [42](https://app.finbar.com/go?id=P36545792) In 2021, it also acquired returns-management company Returnly and launched in Australia. [43](https://investors.affirm.com/news-releases/news-release-details/affirm-to-acquire-returnly) [44](https://investors.affirm.com/news-releases/news-release-details/affirm-completes-acquisition-of-returnly) [45](https://investors.affirm.com/news-releases/news-release-details/article-affirm-expands-internationally-by-launching-in-australia) Affirm announced its UK launch in November 2024, followed by the start of early access to Shop Pay Installments in Canada in 2025. [46](https://investors.affirm.com/news-releases/news-release-details/affirms-flexible-and-transparent-pay-over-time-options-now) [47](https://investors.affirm.com/news-releases/news-release-details/affirm-and-shopify-accelerate-global-expansion-shop-pay)
[42](https://app.finbar.com/go?id=P36545792)[36](https://www.affirm.com/business/blog/affirm-decade-history-infographic)[37](https://investors.affirm.com/management/max-levchin)[38](https://investors.affirm.com/news-releases/news-release-details/affirm-and-walmart-announce-omnichannel-partnership)[39](https://www.affirm.com/business/blog/affirm-shopify-partner-split-payments)[40](https://investors.affirm.com/news-releases/news-release-details/affirm-acquire-paybright-one-canadas-leading-buy-now-pay-later-0/)[41](https://investors.affirm.com/news-releases/news-release-details/affirm-completes-paybright-acquisition/)[43](https://investors.affirm.com/news-releases/news-release-details/affirm-to-acquire-returnly)[44](https://investors.affirm.com/news-releases/news-release-details/affirm-completes-acquisition-of-returnly)[45](https://investors.affirm.com/news-releases/news-release-details/article-affirm-expands-internationally-by-launching-in-australia)[46](https://investors.affirm.com/news-releases/news-release-details/affirms-flexible-and-transparent-pay-over-time-options-now)[47](https://investors.affirm.com/news-releases/news-release-details/affirm-and-shopify-accelerate-global-expansion-shop-pay)

## Sources

1. [Affirm Holdings, Inc. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P160780163)
2. [Affirm Holdings, Inc. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P160780153)
3. [Affirm Holdings, Inc. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P160780165)
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5. [Affirm Holdings, Inc. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P160780167)
6. [Affirm Holdings, Inc. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P160780147)
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9. [Affirm Holdings, Inc. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P160780152)
10. [Affirm Holdings, Inc. — Full financial report (2026 Y)](https://app.finbar.com/go?id=T18693034)
11. [Affirm Holdings, Inc. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P160780155)
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13. [Affirm Holdings, Inc. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P160780170)
14. [Affirm Holdings, Inc. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P160780178)
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23. [Affirm Holdings, Inc. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P160780157)
24. [Affirm Holdings, Inc. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P160780158)
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27. [Affirm Holdings, Inc. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P160780704)
28. [www.affirm.com](https://www.affirm.com/careers)
29. [Affirm Holdings, Inc. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P160780991)
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32. [Affirm Holdings, Inc. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P160781237)
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35. [Affirm Holdings, Inc. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P160780841)
36. [www.affirm.com](https://www.affirm.com/business/blog/affirm-decade-history-infographic)
37. [investors.affirm.com](https://investors.affirm.com/management/max-levchin)
38. [investors.affirm.com](https://investors.affirm.com/news-releases/news-release-details/affirm-and-walmart-announce-omnichannel-partnership)
39. [www.affirm.com](https://www.affirm.com/business/blog/affirm-shopify-partner-split-payments)
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42. [Affirm Holdings, Inc. — Full financial report (2021 Y)](https://app.finbar.com/go?id=P36545792)
43. [investors.affirm.com](https://investors.affirm.com/news-releases/news-release-details/affirm-to-acquire-returnly)
44. [investors.affirm.com](https://investors.affirm.com/news-releases/news-release-details/affirm-completes-acquisition-of-returnly)
45. [investors.affirm.com](https://investors.affirm.com/news-releases/news-release-details/article-affirm-expands-internationally-by-launching-in-australia)
46. [investors.affirm.com](https://investors.affirm.com/news-releases/news-release-details/affirms-flexible-and-transparent-pay-over-time-options-now)
47. [investors.affirm.com](https://investors.affirm.com/news-releases/news-release-details/affirm-and-shopify-accelerate-global-expansion-shop-pay)

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