Affirm Secures $1.7B Loan Purchase Deal with CPP Investments
Event summary
- Affirm and CPP Investments renewed and expanded a forward-flow agreement, committing $1.7B (expandable to $2.2B) to purchase Affirm installment loans over 24 months.
- The deal is expected to support up to $8B in consumer loan volume over its term.
- Since 2019, CPP Investments has purchased nearly $14B in Affirm assets through similar agreements and securitizations.
- Affirm's total funding capacity grew to $28.2B as of March 31, 2026, supported by diverse capital partners.
The big picture
Affirm's renewed partnership with CPP Investments underscores the growing reliance on institutional capital to fuel consumer lending platforms. The deal highlights the strategic importance of stable, long-term funding relationships in a sector characterized by high growth and regulatory scrutiny. With $28.2B in total funding capacity, Affirm is positioning itself to capture a larger share of the transparent payment solutions market, which continues to expand as consumers seek alternatives to traditional credit options.
What we're watching
- Funding Capacity
- How Affirm will leverage the expanded funding capacity to grow its network of consumers and merchants.
- Credit Performance
- Whether Affirm can sustain the credit performance that has attracted long-term partners like CPP Investments.
- Market Dynamics
- The pace at which Affirm can scale its loan volume in a competitive consumer finance landscape.
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