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Home » Is Affirm Owned By Paypal? The Truth About Their Relationship

Is Affirm Owned By Paypal? The Truth About Their Relationship

Is Affirm owned by PayPal?

Affirm Holdings, Inc. is an American financial technology company founded by Max Levchin, a co-founder of PayPal, in 2012. The company provides a buy now, pay later service for online and in-store shopping. As of 2023, Affirm is the leading company in the U.S. buy now, pay later sector, with over 18 million users and $20.2 billion in annual gross merchandise value (GMV).

While Affirm was founded by a PayPal co-founder, it is not owned by PayPal. The two companies operate independently and have different business models. Affirm specializes in providing financing for online and in-store purchases, while PayPal focuses on facilitating online payments and money transfers.

Even though Affirm and PayPal are distinct entities, they do have a close relationship. In 2018, PayPal invested $75 million in Affirm, demonstrating its confidence in the company’s future. This investment signifies a strategic partnership between the two companies, aimed at expanding their reach and offering a wider range of financial services. In 2022, PayPal acquired a 4.5% equity stake in Affirm, further strengthening their connection. However, despite their shared history and investment, Affirm remains a separate entity, operating autonomously under its own management.

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Categories: Max Levchin Net Worth: From Paypal To Affirm And Beyond

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