Affirm Holdings, Inc.: insider trades · United States · SEC (Form 4)

About Affirm Holdings, Inc.

Affirm Holdings, Inc. is a U.S. financial technology company listed on the NASDAQ under the ticker AFRM, and headquartered in San Francisco, California, United States. Founded in 2012 by Max Levchin, the PayPal co-founder, Affirm has become one of the best-known names in the buy now, pay later (BNPL) and point-of-sale installment financing market. Its core brand message is built around transparency: clear upfront pricing, fixed payment schedules, and a consumer proposition designed to avoid hidden fees and late penalties in its core direct-to-consumer model. Affirm operates as a two-sided payments network connecting consumers, merchants, and funding partners. Its business model centers on offering biweekly or monthly payment plans at checkout, both online and in-store, subject to eligibility. The company uses proprietary underwriting and real-time decisioning to evaluate transactions, and it has said it continues to enhance underwriting with more current signals such as account balance and cash-flow trends. In practical terms, Affirm monetizes through a mix of network revenue, servicing income, and economics tied to its capital and loan funding partnerships. Competitively, Affirm operates in a crowded landscape that includes card issuers, banks, large payment platforms, and other BNPL providers. Its relative edge lies in brand positioning, a proprietary technology stack, and a merchant network strategy that aims to embed pay-over-time options directly into checkout flows and enterprise payment ecosystems. Affirm often presents itself not merely as a lender, but as a payment network, which supports deeper commercial integrations and broader distribution. Its product set includes consumer installment plans, merchant checkout solutions, and embedded financing partnerships across e-commerce and omni-channel retail. Recent company developments point to continuing commercial expansion: a partnership with Lowe’s announced in February 2026, an integration with Intuit’s QuickBooks Payments announced in early 2026, a collaboration with Fiserv in January 2026, and international expansion through Virgin Media O2 in the United Kingdom, alongside travel-related and other merchant partnerships. These moves reinforce Affirm’s effort to broaden its acceptance base beyond core retail categories. For investors, Affirm remains a growth-oriented fintech with exposure to consumer spending cycles, funding conditions, and BNPL regulation. The opportunity is meaningful, but the business also carries execution risk, credit sensitivity, and competitive pressure that require close monitoring.