Affirm extends capital partnership with Moore through 2027

SAN FRANCISCO - Affirm (NASDAQ:AFRM), the buy-now-pay-later company with a market capitalization of $20 billion and impressive 84.5% return over the past year, and Moore Specialty Credit (MSC) Platform announced Tuesday they have extended their capital partnership through May 2027, continuing a collaboration that began in 2017.

The extension builds on a relationship where Moore, as Affirm’s first loan buyer, has invested nearly $5 billion in Affirm’s assets over the past eight years through multiple funding channels, including forward flow partnerships and support for asset-backed securitizations.

"We appreciate Moore’s long-term support as one of Affirm’s earliest capital partners," said Brooke Major-Reid, Chief Capital Officer at Affirm, according to the press release.

Erik Siegel, CIO of the Moore Specialty Credit Platform, noted their experience with "Affirm’s differentiated approach to driving positive credit outcomes" in the announcement.

Affirm, which provides payment options without late fees or hidden charges, reported generating over $33 billion in gross merchandise volume for the twelve months ending March 31, 2025. The company’s total funding capacity reached $23.3 billion as of the same date, marking nine consecutive quarters of increased capacity. With revenue growth of 42.5% and annual revenue reaching $3 billion, Affirm continues to show strong business momentum. For deeper insights into Affirm’s growth trajectory and detailed financial analysis, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 top US stocks.

As part of its funding model, Affirm has issued 24 asset-backed securitizations totaling $12.25 billion with participation from more than 150 capital partners across various institution types.

The announcement comes as Affirm continues to expand its payment network that allows consumers to pay over time for purchases. The information is based on a company press release statement.

In other recent news, Affirm has expanded its capital partnership with PGIM Fixed Income, a Prudential Financial company, through a new $3 billion revolving loan facility. This facility allows for the purchase of up to $500 million in Affirm loans at any given time, marking a significant capital infusion for the company. Prudential Financial’s investment arm has agreed to purchase up to $500 million of consumer loans from Affirm over a three-year period, with most loans having a six-month maturity. This agreement follows a previous $500 million loan purchase by PGIM in December. Affirm has also extended its partnership with Williams-Sonoma to the Canadian market, allowing Canadian customers to use Affirm’s payment options at stores like West Elm and Pottery Barn. Additionally, Cali Pass has partnered with Affirm to offer flexible payment options for ski resort passes and lift tickets, enhancing customer accessibility. These developments underscore Affirm’s ongoing efforts to expand its financial services and partnerships.

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