AFRM

Affirm Holdings, Inc. operates as a financial technology company that provides point-of-sale lending and digital payment solutions to consumers and merchants in the United States and Canada. Headquartered in San Francisco, California, the company was founded in 2012 and went public in January 2021. Affirm's platform enables consumers to pay for purchases over time through transparent installment loans with no hidden fees, while merchants benefit from increased conversion rates and average order values. The company partners with over 245,000 merchants across various sectors, including retail, travel, and consumer electronics, with notable partners such as Amazon, Shopify, Walmart, and Target. Affirm generates revenue primarily through merchant fees and interest income on consumer loans. The company processed approximately $20.2 billion in gross merchandise volume during fiscal year 2023. In recent developments, Affirm has expanded its product offerings to include the Affirm Card, a debit card that allows users to pay over time for everyday purchases, and has enhanced its savings account product. The company also acquired Returnly in 2020 to streamline the returns process for merchants and consumers. Affirm competes in the rapidly growing buy-now-pay-later market alongside rivals such as Klarna, Afterpay, and PayPal's Pay in 4 service.