Affirm and PGIM Expand Capital Partnership to Support Pay-Over-Time Options

Core Insights - Affirm has launched a new revolving pass-through loan sale facility with PGIM Fixed Income, allowing PGIM to invest up to $3 billion over 36 months by purchasing up to $500 million of Affirm loans at any one time [1][2] - This facility expands the existing capital partnership between Affirm and PGIM, supporting Affirm's pay-over-time options for consumers [2][3] - Affirm has issued 23 asset-backed securitizations totaling $11.5 billion, with participation from over 150 capital partners [4] Funding Capacity - As of March 31, Affirm's funding capacity has increased for nine consecutive quarters, reaching $23.3 billion [5] - In January, Affirm expanded its capital partnership with Liberty Mutual Investments, allowing LMI to purchase Affirm's installment loans up to $750 million outstanding through June 2027 [5] - In December, Affirm formed a long-term capital partnership with Sixth Street, which will invest up to $4 billion in Affirm loans over a three-year forward flow agreement [6]