Affirm Expands Capital Partnership with Liberty Mutual Investments
Buy now, pay later provider Affirm Holdings has expanded its capital partnership with Liberty Mutual Investments (LMI). Under the expanded agreement, LMI will increase its loan purchasing program with Affirm, committing to purchase up to $750 million in loans. Over time, LMI expects to invest up to $5 billion in the program, strengthening its partnership with Affirm. This investment will provide Affirm with committed capital to support its growth plans.
"We remain committed to investing in long-term capital partnerships as we drive our ambitious growth strategy," said Brooke Major-Reid, Affirm's Chief Capital Officer.
The expanded partnership builds on the existing capital partnership between Affirm and LMI, which began in 2019 and included a loan purchase program that commenced in 2023. In addition, in December 2022, PGIM Fixed Income, a subsidiary of Prudential Financial, completed a private purchase of $500 million in loans from Affirm.