Affirm partners with Sixth Street

Payment network Affirm has announced its 3-year flow partnership with Sixth Street in order to invest up to USD 4 million in Affirm Loans. 

Following this announcement, Sixth Street, through its Asset Based Finance platform, will invest up to USD 4 billion by purchasing Affirm loans in a secure and efficient AssetCo structure pursuant to a three-year, forward flow agreement.

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In addition, the capital will offer flexibility, commitment, and alignment from both partners and will also provide additional off-balance sheet funding. This will deliver Affirm the ability to extend loans up to more than USD 20 billion over the next three years as the company continues to scale its payment network. 

More information on the Affirm x Sixth Street partnership

Throughout this collaboration, Sixth Street’s expertise in asset-based finance, long-term capital, and collaborative approach is set to enable Affirm to accelerate its development process, as well as provide its clients with an optimised experience. 

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At the same time, the collaboration represents a major step forward in how Sixth Street will support Affirm’s growth plans, as it will also continue to generate quality assets at scale by underwriting every transaction. Both Affirm and Sixth Street will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well. 

Affirm currently maintains a diverse and durable funding model across several channels, including warehouse facilities, forward flow agreements, and asset-backed securitisations. According to the official press release, the company also intends to continue its approach of regularly adding capacity across channels, as well as building upon its relationships with its long-term capital partners.