Affirm CEO Max Levchin on 43% GMV growth, GAAP profitability, and the future of honest lending
Aug 28, 2025 with Max Levchin
Key Points
- Affirm achieved 43% GMV growth in the quarter, marking its fourth consecutive period of accelerating volume expansion, demonstrating sustained momentum in buy-now-pay-later lending.
- Transaction frequency rose over 20% year-over-year while average ticket size held steady near $300, signaling deeper consumer engagement rather than reliance on larger one-time purchases.
- CEO Max Levchin highlighted the company's GAAP profitability milestone alongside growth metrics, positioning Affirm as a path-to-profit fintech in a competitive installment lending market.
Summary
Read full transcript →Affirm posted another strong quarter, with GMV (gross merchandise volume, the company's term for merchant sales processed through its platform) growing 43%, marking the fourth consecutive quarter of accelerating volume growth according to CEO Max Levchin. The average transaction ticket sits just under $300, and transaction frequency rose more than 20% year-over-year, suggesting deepening consumer engagement rather than one-off use.
“GMB, which is a fancy acronym for merchant sales powered by us, grew 43%, which is a fourth in a row quarter of accelerating volume growth. This quarter, our average ticket is just under $300. Transaction frequency went up over 20% just in the last year.”
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