What smart money is saying about Affirm
1 fund in our archive has pitched Affirm — most recently Optimist Fund in June 2026.
Affirm Holdings, Inc. provides a digital and mobile-first commerce platform that operates across the United States and Canada. This platform offers consumers a point-of-sale financing solution, delivers various tools for merchants, and includes a dedicated mobile application for users. Leveraging its payment network and partnerships with originating banks, the company enables customers to spread the cost of their purchases over time, with payment terms ranging from a single month up to forty-eight months. By June 30, 2021, approximately 29,000 merchants had integrated Affirm's services, representing a diverse array of businesses from small enterprises and large corporations to direct-to-consumer brands and traditional physical stores. These businesses span numerous industries, including sporting goods, home furnishings, travel, apparel, accessories, consumer electronics, and jewelry. Affirm was founded in 2012 and is based in San Francisco, California.
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Position history
Every position in Affirm on record in the archive was reported in Q2 2026, across 2 fund letters — 1 opened or added to the position.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 2 | 1 | 0 | 1 |
Fund activity · 2 positions · 1 move
- AddedOptimist FundJune 2026
“Affirm — A newer position we added to significantly during the Q1 correction. Affirm is this quarter's deep dive; the full thesis follows later in the letter.”
Affirm - HoldsSpyglass Growth StrategyJune 2026
“Affirm Holdings, Inc. (AFRM), a financial technology company, was a top contributor during the second quarter. Affirm reported quarterly results in May that exceeded consensus expectations for both revenue and earnings. Notably, we were pleased to see Affirm Card gross merchandise volume grow 146% year-over-year to $2.13 billion and active cardholders increase 130% year- over-year to 4.4 million. After a difficult start to the year for the stock, which we believe was driven by geopolitical risks and fears around the potential for a weakening consumer given the crosscurrents in the US economy, sentiment appears to have recovered following the US-Iran ceasefire and a more stable macroeconomic outlook. We were also pleased with the management team’s growth outlook and profitability framework which was articulated at the Company’s investor forum in May. Affirm remains a significant position for the portfolio.”
Affirm
Fund coverage · 1 thesis
- Optimist FundJune 2026
Affirm is a founder-led BNPL leader with strong underwriting, durable competitive advantages, and substantial long-term growth and margin expansion potential.
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