Affirm

A lender dressed as a checkout button: merchants pay Affirm to close bigger sales, and shoppers pay simple interest on most of the $50.2B it processed in fiscal 2026, with no late fees. Affirm sold $21.9B of those loans to capital partners, keeping about 4% equity in the portfolio. Amazon alone is 22% of volume, so the Affirm Card (now 15% of transactions) is its push to own the customer directly. Revenue rose 32% to $4.26B and operating income flipped to +$417M.

Click any of the 9 blocks below for a plain-language story of how that part of the model works for Affirm — and how it connects to the others.