Is Affirm owned by PayPal?
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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