Affirm expands capital partnership with New York Life

Buy now, pay later provider Affirm has expanded its long-term capital partnership with New York Life Insurance , which will now purchase Affirm’s installment loans on a forward-flow basis through December 2026, with an outstanding amount of up to $750 million. The agreement provides off-balance-sheet funding to support about $1.75 billion in annual consumer loan volume, strengthening Affirm’s ability to offer flexible payment options.

New York Life has already invested nearly $2 billion in Affirm collateral through its asset-backed securitizations.

The expanded deal builds on their collaboration, combining Affirm’s underwriting and lending technology with New York Life’s investment and credit expertise.

“As we continue to deploy capital to create lasting value for our policy owners, Affirm has distinguished itself by delivering superior credit outcomes that generate attractive returns. We’re excited to take this next step in our relationship, which exemplifies how we collaborate with industry leaders to invest in growing, high-quality assets.” – Brendan Feeney, Managing Director, New York Life.