PayBright
2021
$1.1B
Why
To acquire the leading buy now, pay later provider in Canada, instantly establishing Affirm's dominance in the Canadian market and providing a localized underwriting engine and merchant network that would have taken years to build organically.
Impact
PayBright brought over 6,000 active merchant partners and millions of active Canadian consumers to Affirm's network, immediately expanding the company's total addressable market and providing a foothold for further international expansion into Europe and Latin America.
Outcome
The Canadian market generated $450 million in gross merchandise value in the first full year post-acquisition, growing at a 60% year-over-year rate and proving that Affirm's underwriting algorithm could be successfully adapted to non-US credit bureaus and consumer behaviors.