Affirm Holdings, Inc.

Affirm Holdings, Inc. is building a next-generation payment network designed to reinvent payments and commerce. The company's solutions aim to make it easier for consumers to spend and save responsibly and with confidence, and for merchants and commerce platforms to convert sales and grow. Affirm's platform addresses problems associated with legacy payment options, archaic systems, and traditional risk and credit underwriting models, which it believes are not well-suited for digital and mobile-first commerce. The company operates on principles of simplicity, transparency, and putting people first. Since its founding, Affirm has charged $0 in late fees for missed payments and does not profit from consumers' mistakes. Its technology, underwriting, and risk management are considered key competitive advantages. Affirm's proprietary technology can price and assess risk at a transaction level, leading to lower fraud rates, higher approval rates compared to traditional credit underwriting models, and lower credit losses. Its models are built on extensive data points, including data from approximately 343 million loans, and are designed to continuously improve over time. This approach allows Affirm to serve consumers across the credit spectrum and price risk across transaction types using sophisticated machine learning algorithms, proprietary data, and product-level underwriting.