About
Affirm is the largest US BNPL company by revenue, claiming 50%+ of the US pay-later market. Public company (AFRM) with $2.3B revenue in 2024 (+46% YoY) and $28B GMV. 21M active users and 323K merchants. Founded by PayPal co-founder Max Levchin. Profitable in recent quarters. Average transactions per user reached 4.9 in Q4 2024 (up from 10% quarterly frequency in FY21 to 40% in FY24).
Key Facts
- [1]Founded: Founded in 2012 in San Francisco, United States.
- [2]Funding: Total funding: $1.5B. Last round: Jan 2021. Stage: Public.
- [3]Customers: Key customers include Costco, Amazon, Shopify, Target.
- [4]Employees: Employee count: 1,001-5,000.
- [5]Revenue: Annual revenue/ARR: approximately $3.2B.
- [6]Company Type: Public company.
- [7]Website: Official website: affirm.com.
- [8]AI Technology: Core AI/ML technologies: Predictive ML.
- [9]Region: Region: Americas (United States).
Founders
Max Levchin
Founder & CEO
Nathan Gettings
Co-founder
Jeffrey Kaditz
Co-founder
Alex Rampell
Co-founder
Key Customers & Partners
AI Technology
Predictive ML
Traditional ML algorithms for classification, regression, and scoring models
Classification
Market Segments
Tech Stack Layers
Details
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Frequently Asked Questions
What is Affirm?
Affirm is the largest US BNPL company by revenue, claiming 50%+ of the US pay-later market. Public company (AFRM) with $2.3B revenue in 2024 (+46% YoY) and $28B GMV. 21M active users and 323K merchants. Founded by PayPal co-founder Max Levchin. Profitable in recent quarters. Average transactions per user reached 4.9 in Q4 2024 (up from 10% quarterly frequency in FY21 to 40% in FY24). Affirm is classified in the Lending & Credit segment at the Applications layer of the financial AI stack.
Who founded Affirm?
Affirm was founded by Max Levchin (Founder & CEO), Nathan Gettings (Co-founder), Jeffrey Kaditz (Co-founder), and Alex Rampell (Co-founder) in 2012 in San Francisco, United States. The company has been operating for 14 years. Affirm is now a publicly traded company.
How much funding has Affirm raised?
Affirm has raised $1.5B in total funding, placing the company at the Public stage. The most recent round closed in Jan 2021. Affirm generates approximately $3.2B in annual revenue. Among 81 funded Lending & Credit companies, Affirm ranks #11 by total capital raised. (Source: AIFI Map directory.)
What AI technology does Affirm use?
Affirm primarily leverages Predictive ML technology. Traditional ML algorithms for classification, regression, and scoring models. Within the Lending & Credit segment, 58 companies use this technology.
What market segment does Affirm operate in?
Affirm operates in the Lending & Credit market segment. AI lending and credit companies are reimagining how creditworthiness is assessed, loans are originated, and debt is managed across consumer, small business, and commercial markets.
Where is Affirm headquartered?
Affirm is headquartered in San Francisco, United States. The company operates in the Americas region. The team consists of 1,001-5,000 employees. United States is home to 324 financial AI companies tracked by AIFI Map.
Who are Affirm's competitors?
Companies similar to Affirm in the Lending & Credit space include Unit21 ($92M raised), Upstart ($160M raised), Zest AI ($357M raised), Pagaya ($75M raised), Scienaptic AI ($17M raised). These companies operate in related areas of financial AI: Unit21 focuses on ai-powered fraud and aml platform. Upstart focuses on ai lending platform using alternative data for credit decisions. Zest AI focuses on ai-automated underwriting for credit unions and banks. (Based on AIFI Map classification data.)
What products does Affirm offer?
Affirm builds applications-layer solutions for the financial services industry. The company's core offering: AI-driven buy now pay later. The platform is powered by Predictive ML technology. Notable users include Costco, Amazon, Shopify, Target.
Is Affirm publicly traded?
Yes, Affirm is a publicly traded company. Annual revenue is approximately $3.2B.