Affirm Holdings, Inc.

Affirm Holdings, Inc. is building a next-generation payment network focused on reinventing payments and commerce through modern technology and engineering. The company's solutions aim to simplify spending and saving for consumers responsibly and confidently, while helping merchants and commerce platforms convert sales and grow. Affirm operates on principles of simplicity, transparency, and prioritizing people, charging $0 in late fees for missed payments and not profiting from consumer mistakes. Key competitive advantages include its proprietary technology for pricing and assessing risk at a transaction level, which differs from legacy payment and credit systems. Affirm's risk management approach has resulted in lower fraud rates, higher approval rates, and lower credit losses compared to traditional credit underwriting models for customers with similar credit risk profiles. Its models are built on extensive data, including approximately 553 million loans to date, and are designed for continuous improvement with each transaction. This approach provides consumers with increased purchasing power, control, and flexibility. Affirm utilizes a unique risk model based on sophisticated machine learning algorithms, proprietary data, and product-level underwriting to serve consumers across the credit spectrum and price risk across various transaction types. Consumers on its platform represent a broad cross-section of society. For merchants, Affirm's commerce solutions support growth by enhancing demand generation and consumer acquisition, with the platform engineered to integrate with a wide range of merchants.