<p><strong>SAN FRANCISCO</strong> &#8212; Affirm is expanding its long-term capital partnership with New York Life, America’s largest mutual life insurance company.</p>
<p>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.</p>
<p>Affirm allows consumer to buy goods and pay over time without any late or hidden fees.</p>
<p>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.</p>
<p>Prior to this latest expansion, New York Life has invested nearly $2 billion in Affirm collateral, including through the company’s asset-backed securitizations.</p>
<p>“We are proud to expand our relationship with such a trusted and forward-thinking partner in New York Life,” said Michael Linford, Chief Operating Officer, Affirm. “Through our collaboration, we will be even better positioned to responsibly increase access to our flexible and transparent payment options.”</p>
<p>“As we continue to deploy capital to create lasting value for our policy owners, Affirm has distinguished itself by delivering superior credit outcomes that generate attractive returns,” said Brendan Feeney, Managing Director, New York Life. “We’re excited to take this next step in our relationship, which exemplifies how we collaborate with industry leaders to invest in growing, high-quality assets.”</p>
<p>Affirm has saved consumers over $460 million in late fees. By choosing Affirm instead of revolving credit card debt, U.S. consumers could save 5-30% annually on their total cost of credit – roughly $18 billion in 2024 alone.</p>

MOUNTAIN VIEW -- ALM Ventures has announced the launch of ALM Ventures Fund I, a…
SAN FRANCISCO -- Brainworks Ventures, an AI-native venture capital fund led by DARPA alumnus Dr.…
OpenAI is hiring Slack CEO Denise Dresser as the company's Chief Revenue Officer, overseeing global…
The Santa Clara County District Attorney’s Office has charged a San Jose 17-year-old with attempted…
SANTA CLARA — Lemurian Labs has secured $28 million in an oversubscribed Series A round,…
EMERYVILLE -- Ripple Foods, a producer of high-protein, allergen-free plant-based milks, has landed $17 million in…