Affirm

affirm.com


Amar Shah

Amar Shah

Director, Consumer and Marketplace
Amar launched a merchant discovery marketplace in the Affirm app in 2018. Enabling customers to shop at any store with an Affirm digital card, this innovative affiliate model drives spending power, not just traffic. Prior to Affirm, Amar worked in global strategy and growth at PayPal and was a management consultant at L.E.K. Consulting. He graduated from Duke University, has an M.B.A. from Northwestern University, and currently lives in San Francisco.

Product: Affirm
Category: Established Company
HQ: San Francisco, CA U.S.
Principal(s): Max Levchin, Co-Founder & CEO
Funding: Affirm has raised over $800M in equity funding.
Product Description: By allowing customers to pay over time, Affirm enables travel companies to simultaneously expand their network, drive loyalty and become the one stop shop for a customer's entire trip. Afirm's app gives brands access to a large group of highly motivated travelers and the ability to provide them with personalized offers. Our honest financing solution generates a +83 NPS with 20% of customers making a repeat purchase within six months. Customers can also seamlessly add ancillary products, with merchants retaining a larger share of wallet.
Business Model: Two sources of revenue: 1) A fixed percentage transaction fee per booking purchased via Affirm, paid for by integrated merchants, similar to a standard credit card payment processing fee; 2) For interest bearing loans, the simple interest we charge our customers for offering them a split payment option.
Competitors: Affirm's competitors include traditional credit card issuers as well as other installment loan providers.
Competitive Edge: Affirm's proprietary technology enables deeper credit approvals for our 3M+ consumer network. We offer flexible financing like 0% APR with loan terms ranging from 3 to 48 months. Consumers love our transparent terms with no fees and spend billions of dollars annually across our 3,000+ merchant partners.
Market Opportunity: We have identified a $377B addressable U.S. online travel market. Millennials, now the largest consumer group in the U.S., are shifting their spending from products to experiences. Additionally, only 13% of the U.S. population can afford to use their vacation days which has driven demand for travel installments. We've also found that 58% of people are avoiding credit cards at checkout when paying for travel. With over half of Americans feeling stressed when planning and determining how they will pay for travel, it's not surprising that 76% are looking for pay-over-time options.
Early Customers: Delta, Expedia Group, Priceline, Fareportal, Great Wolf Lodge, StubHub, Alternative Airlines, Outdoorsy, Getaway House and others.
Contact: Amar Shah, Director, Consumer and Marketplace; [email protected], +1 316 209-1197