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Affirm Holdings, Inc. is an American technology company that provides financial services for shoppers and merchants. [4] [5] [6] Founded in 2012 by PayPal co-founder Max Levchin, [7] it is the largest U.S. based buy now, pay later lender.
Buy now, pay later services have taken the place of layaway: You get to take home your purchase now and pay for it over time. Affirm is one of the most common buy now, pay later services. But how ...
Affirm: Best for longer repayment options. Afterpay: Best for flexibility. Klarna: Best for earning rewards. PayPal Pay in 4: Best for larger purchases. Splitit: Best for using existing credit.
Affirm's gross merchandise value was $7.2 billion last quarter (Q4 of Affirm's fiscal year), a 31% year-over-year increase. BNPL is currently an e-commerce phenomenon, but that's changing.
As a result of Affirm's January 13, 2021 IPO, Shopify's 8% stake in Affirm was worth $2 billion. [60] About half of Shopify's C-level executives left the company in early 2021. [61] [62] On June 29, 2021, Shopify removed the 20% revenue share for app developers that make less than US$1 million per year. [63]
Affirm was created by Levchin, Palantir Technologies co-founder Nathan Gettings, and Jeff Kaditz of First Data. The company is based in San Francisco. [19] In 2013, HVF launched Glow, a fertility app that helps couples conceive naturally. [20] [21] After Affirm had its initial public offering, Levchin's stake was estimated at about $2.5 billion ...