Affirm Expands into Card Spending with Strong Q4 Results

Affirm, a fintech company, reported a strong Q4 and record volume as it expands into card spending. CEO Max Levchin sees a positive outlook, with improvements in nearly every metric compared to last year. Levchin discussed the fintech landscape with Bloomberg Businessweek Daily, highlighting the growth of buy now, pay later services.

Affirm, a leading fintech company, has reported a robust fourth quarter, with record volume and significant growth across various business lines. CEO Max Levchin expressed optimism about the company's future, noting improvements in nearly every metric compared to the previous year. In an interview with Bloomberg Businessweek Daily, Levchin discussed the growth of buy now, pay later (BNPL) services and the company's expanding card spending.

Affirm's latest results, reported late last week, showed substantial growth in gross merchandise volume (GMV) and revenues. The company's GMV soared 34% to $10.4 billion, while revenues gained 33% to $876 million. Notably, the Affirm Card experienced a significant surge in usage, with GMV growing 132% to $1.2 billion and active cardholders increasing by 97% to 2.3 million. During the conference call with analysts, Levchin stated that "growth is accelerating, and we are firing on all pistons" [1].

Levchin highlighted the potential of the Affirm Card, noting that the attach rate in the customer roster stands at about 10%. He emphasized that the company is learning how to offer the card in ways that encourage consumers to use it in various settings, such as gas stations. This strategic focus on card spending is part of Affirm's broader expansion into new markets and services.

The company's strong performance has been reflected in its stock price, with shares jumping about 15.5% through the week. Affirm's latest results have also garnered attention from prominent financial figures. Jim Cramer, for instance, recommended buying Affirm shares on CNBC's "Mad Money Lightning Round," while advising investors to sell Chime Financial stock [2].

Affirm's success in the BNPL space is a testament to the growing popularity of these services. The company's ability to adapt and innovate, as well as its focus on customer experience, has positioned it as a leader in the fintech industry. As Levchin noted, the fintech landscape is dynamic, and companies like Affirm that can capitalize on emerging trends are well-positioned for continued growth.

References:
[1] https://www.pymnts.com/news/fintech-investments/2025/opendoor-and-affirm-move-fintech-ipo-higher/
[2] https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/09/47494669/jim-cramer-sell-chime-buy-now-pay-later-stock