Affirm Expands It Long-Term Capital Partnership With New York Life, Under Which New York Life Will Purchase Up To $750M In Affirm's Installment Loans Through December 2026

Affirm (NASDAQ:AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced an expansion of their long-term capital partnership with New York Life, America's largest1 mutual life insurance company.

Under the expanded agreement, New York Life will purchase Affirm's installment loans on a forward-flow basis between now and December 2026 with an amount outstanding of up to $750 million. This provides off-balance-sheet funding that can support approximately $1.75 billion in consumer loan volume per year, helping Affirm offer even more flexible and transparent payment options.

The expanded partnership leverages the complementary strengths of Affirm and New York Life. As an industry-leading underwriter, Affirm provides a responsible and transparent way to pay over time without any late fees or hidden charges. As one of the world's leading investment platforms, New York Life brings significant scale and private credit structuring expertise.