Affirm vs Block: Founders, CEOs and History
Affirm was founded in 2012 by Max Levchin, Nathan Gettings, Jeffrey Kaditz and is led by Max Levchin. Block was founded in 2009 by Jack Dorsey, Jim McKelvey and is led by Jack Dorsey.
Company facts
Founders
Affirm
Max Levchin
Max Levchin founded Affirm in 2012 and is its chief executive officer and chairman. Affirm's official biography also identifies him as a PayPal co-founder and former PayPal chief technology officer.
Nathan Gettings
Nathan Gettings co-founded Affirm in 2012 and served as its chief risk officer. He previously co-founded Palantir Technologies.
Jeffrey Kaditz
Jeffrey Kaditz co-founded Affirm in 2012 as part of the initial group working through the HVF startup studio. He later founded healthcare technology company Q Bio.
Alex Rampell
Alex Rampell co-founded Affirm in 2012. He had previously founded payments company TrialPay and later became a general partner at Andreessen Horowitz.
Block
Jack Dorsey
Dorsey co-founded Square in 2009 with Jim McKelvey after McKelvey lost a glass sale he could not take by card, and has run the company ever since: through the 2015 IPO, the rise of Cash App, the December 2021 rename to Block, the Afterpay purchase and, in Febr…
Jim McKelvey
McKelvey's lost $2,000 glass sale is Square's origin story. He worked with Dorsey and engineer Tristan O'Tierney on the first reader and the flat-pricing business model, and later wrote 'The Innovation Stack' (2020), which explains how Square survived copycats…
CEOs and their tenures
Affirm
- Max Levchin2014–present
Founder, Chief Executive Officer and Chairman
Levchin founded Affirm in 2012 and leads its payment network, lending products, and no-late-fee strategy. He previously co-founded PayPal and served as its chief technology officer.
Source
Block
- Jack Dorsey2009–present
Co-Founder, Block Head and Chairman (Chief Executive)
Has led Square and Block since 2009: the 2015 IPO, the growth of Cash App, the 2021 rename to Block, the Afterpay purchase, bitcoin projects such as Bitkey and Proto, and the February 2026 cut to just under 6,000 employees.
Source - Alyssa Henry2014–2023
Seller Lead, then Chief Executive of the Square business
Joined from Amazon in 2014 as seller lead and became chief executive of the Square business when the parent was renamed Block in December 2021.
Source
Timeline: Affirm and Block side by side
2009Block
Square founded in St. Louis
Jack Dorsey and Jim McKelvey start Square in February 2009 after McKelvey loses a $2,000 glass sale because he cannot take an American Express card. With engineer Tristan O'Tierney they build a reader that plugs into a phone's headphone jack.
2010Block
Square reader and app go public
Square releases its free card reader and app, letting individuals and small sellers take card payments on a smartphone at one published rate instead of signing a bank merchant contract.
2011Block
Visa invests in Square
Visa makes a strategic investment in Square in April 2011, a sign the card networks saw the startup as widening card acceptance rather than threatening it.
2012Affirm
Affirm Founded
Max Levchin, Nathan Gettings, Jeffrey Kaditz, and Alex Rampell founded Affirm as part of the HVF startup studio.
2012Block
Starbucks deal
Starbucks invests $25 million and Square starts processing card payments at about 7,000 U.S. Starbucks stores, with Dorsey joining the Starbucks board.
2013Block
Square Cash launches
Square launches Square Cash in October 2013, letting people send money to each other by email. It later becomes Cash App.
2014Block
Square Capital and Caviar
Square starts lending to its own sellers through Square Capital in May 2014, with repayments taken as a share of daily card sales, and buys food delivery service Caviar.
2015Block
IPO on the New York Stock Exchange
Square lists on the NYSE as SQ on November 19, 2015 at $9 a share, a valuation of about $2.9 billion, raising about $243 million.
2016Affirm
Sweep Acquired
Affirm acquired the technology, staff, and assets of personal-finance app Sweep; terms were not disclosed.
2018Block
Cash App adds bitcoin; Square buys Weebly
Cash App, which added the Cash Card debit card in 2017, lets users buy bitcoin from 2018, and Square buys website builder Weebly for $365 million. Commission-free stock investing follows in 2019.
2019Affirm
Walmart Partnership
Affirm began offering installment financing to Walmart customers online and in stores.
2019Affirm
$300 Million Series F
Affirm announced a $300 million Series F funding round led by Thrive Capital.
2020Affirm
$500 Million Series G
Affirm raised a $500 million Series G and said it had raised more than $1.3 billion from investors to date.
2020Affirm
Shopify Partnership
Shopify selected Affirm to power Shop Pay Installments in the United States.
2020Block
Bitcoin treasury, Verse and Credit Karma Tax
The FDIC approves deposit insurance for Square Financial Services in March 2020. Square buys Spanish payments app Verse in June, puts $50 million into 4,709 bitcoin in October, and agrees in November to buy Credit Karma Tax for $50 million.
2021Affirm
PayBright Acquisition Completed
Affirm completed its acquisition of Canadian BNPL provider PayBright after announcing consideration of approximately $245 million (C$340 million).
2021Affirm
Nasdaq IPO
Affirm sold 24.6 million Class A shares at $49 each in its initial public offering and began trading on Nasdaq under AFRM.
2021Affirm
Returnly Acquisition Completed
Affirm completed its approximately $300 million acquisition of online returns and post-purchase payments provider Returnly.
2021Affirm
Amazon Partnership
Affirm began testing pay-over-time options for eligible Amazon.com purchases in the United States.
2021Block
TIDAL purchase and Square's own bank opens
Square Financial Services opens on March 1, 2021, and Square agrees the same month to buy a majority of the TIDAL music service for $297 million in cash and stock, with Jay-Z joining its board.
2021Block
Afterpay deal announced
Square agrees in August 2021 to buy Afterpay, the Australian buy now, pay later company, in an all-stock deal valued at about $29 billion.
2021Block
Square becomes Block
On December 10, 2021, Square, Inc. renames itself Block, Inc., shortly after Dorsey steps down as Twitter's chief executive. Square remains the name of the seller business.
2022Block
Afterpay acquisition closes
Block completes the Afterpay purchase on January 31, 2022. Because it paid in its own shares, which had roughly halved since the announcement, the deal was worth much less at closing than the headline $29 billion.
2023Affirm
Affirm Card Launch
Affirm launched its debit card with pay-in-full and pay-over-time functionality.
2023Block
Hindenburg report, Square leadership change and Bitkey
Short seller Hindenburg Research accuses Cash App in March 2023 of inflated user metrics and weak compliance, which Block rejects.
2024Affirm
United Kingdom Launch
Affirm launched its pay-over-time products in the United Kingdom, its first market outside the United States and Canada.
2024Block
Proto mining chip and portfolio cuts
Block says in April 2024 it has designed a 3-nanometer bitcoin mining chip, agrees in July to supply Core Scientific, and in November winds down its TBD crypto unit and scales back TIDAL.
2025Block
Cash App settlements and the XYZ ticker
In January 2025 the CFPB orders Block to pay up to $120 million in Cash App redress plus a $55 million penalty, state regulators impose an $80 million anti-money-laundering penalty, and the ticker changes from SQ to XYZ.
2025Block
Block joins the S&P 500
Block enters the S&P 500 on July 23, 2025, replacing Hess, and at its November investor day sets 2028 targets of about $15.8 billion of gross profit and $4.6 billion of adjusted operating income.
2026Block
Workforce cut to under 6,000
On February 26, 2026, Dorsey announces Block will shrink from more than 10,000 employees to just under 6,000, citing AI, and the shares jump about 24%.
Acquisitions
Block
- Afterpay2022$29B
- TIDAL (majority stake)2021$297M
- Credit Karma Tax (now Cash App Taxes)2020$50M
- Verse2020Undisclosed
- Weebly2018$365M
- Caviar2014$90M
Questions about Affirm vs Block
Who is the CEO of Affirm Holdings, Inc. and Block Inc?
Affirm Holdings, Inc. is led by Max Levchin and Block Inc is led by Jack Dorsey. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Affirm Holdings, Inc. founded vs Block Inc?
Block Inc was founded in 2009 — 3 years before Affirm Holdings, Inc., which was founded in 2012. Block Inc's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Affirm Holdings, Inc..
How many employees does Affirm Holdings, Inc. have compared to Block Inc?
Affirm Holdings, Inc. employs approximately 2,358 people, while Block Inc employs approximately 10,205. Block Inc has the larger workforce at 10,205 employees, compared to Affirm Holdings, Inc.'s 2,358. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Affirm Holdings, Inc. and Block Inc headquartered?
Both Affirm Holdings, Inc. and Block Inc are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded Affirm Holdings, Inc. and Block Inc?
Affirm Holdings, Inc. was founded by Max Levchin, Nathan Gettings, Jeffrey Kaditz, Alex Rampell. Block Inc was founded by Jack Dorsey, Jim McKelvey.
Which company has a longer operating history — Affirm Holdings, Inc. or Block Inc?
Block Inc has been operating for approximately 17 years, making it the more established of the two companies. Affirm Holdings, Inc. has been in operation for around 14 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Affirm vs Block overview