Affirm vs PhonePe: Founders, CEOs and History
Affirm was founded in 2012 by Max Levchin, Nathan Gettings, Jeffrey Kaditz and is led by Max Levchin. PhonePe was founded in 2015 by Sameer Nigam, Rahul Chari, Burzin Engineer and is led by Sameer Nigam.
Company facts
Founders
Affirm
Max Levchin
Max Levchin (born 1975) is a highly influential Silicon Valley entrepreneur and investor. After helping build the foundational infrastructure of the modern digital payments industry at PayPal, he founded Affirm to challenge traditional credit card networks.
Nathan Gettings
Nathan Gettings co-founded Affirm, bringing immense expertise in massive-scale data analytics and risk modeling from his time building Palantir's core anti-fraud systems.
Jeffrey Kaditz
Jeffrey Kaditz co-founded Affirm and served as its first Chief Technology Officer.
Alex Rampell
Alex Rampell co-founded Affirm based on his deep understanding of point-of-sale financing and merchant networks.
PhonePe
Sameer Nigam
Sameer Nigam co-founded PhonePe in 2015. While serving as the Senior Vice President of Engineering at Flipkart, he witnessed the absolute nightmare of processing massive cash-on-delivery payments in India.
Rahul Chari
Rahul Chari co-founded PhonePe in 2015 alongside Sameer Nigam. As a highly experienced technical architect (he previously served as VP of Engineering at Flipkart), he built PhonePe's incredibly robust backend infrastructure, ensuring the app could smoothly pro…
Burzin Engineer
Burzin Engineer co-founded PhonePe in 2015. He played an absolutely critical role in building the core architecture and maintaining the intense reliability of the platform's early UPI integration, acting as the Chief Reliability Officer to ensure seamless bank…
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
PhonePe
- Sameer Nigam2015–present
Founder & CEO
Nigam holds a computer engineering degree from the University of Mumbai and an MBA from The Wharton School. His technological foresight built the largest digital payments pipeline in India.
Source - Burzin Engineer2015–2024
Co-Founder
Burzin Engineer co-founded PhonePe in 2015 alongside Sameer Nigam and Rahul Chari.
Source
Timeline: Affirm and PhonePe side by side
2012Affirm
Affirm Founded
Max Levchin, Nathan Gettings, Jeffrey Kaditz, and Alex Rampell founded Affirm as part of the HVF startup studio.
2015PhonePe
PhonePe incorporated in Bengaluru by Sameer Nigam, Rahul Chari, and Burzin Engineer.
2016Affirm
Sweep Acquired
Affirm acquired the technology, staff, and assets of personal-finance app Sweep; terms were not disclosed.
2016PhonePe
Acquired by Flipkart in April; launches India's first UPI consumer app in August ahead of demonetization.
2018PhonePe
Walmart acquires 77% of Flipkart Group, becoming the ultimate majority owner of PhonePe.
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.
2020PhonePe
Successfully migrates millions of users to multi-bank architecture in 24 hours during Yes Bank crisis; launches insurance.
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.
2021PhonePe
Crosses 1 billion monthly UPI transactions, cementing #1 market share in Indian digital payments.
2022PhonePe
Completes corporate separation from Flipkart; reverse-flips domicile to India; acquires Indus OS.
2023Affirm
Affirm Card Launch
Affirm launched its debit card with pay-in-full and pay-over-time functionality.
2023PhonePe
Raises $850 million at a $12 billion valuation from General Atlantic, Tiger Global, and Walmart; launches Share.Market.
2024Affirm
United Kingdom Launch
Affirm launched its pay-over-time products in the United Kingdom, its first market outside the United States and Canada.
2024PhonePe
Launches Indus Appstore nationwide; surpasses 550 million registered users and 40 million merchants.
2025PhonePe
Files a confidential DRHP for an Indian IPO; FY25 revenue rises 40% to ~$825 million (₹7,115 crore) and net loss narrows to ~$200 million (₹1,727 crore).
2026PhonePe
Pauses its IPO in March, citing market volatility. Crosses 700 million registered users in April.
Acquisitions
PhonePe
- Indus OS (Indus App Bazaar)2022$60M
- WealthDesk & OpenQ2022$75M
- GigIndia2022$12M
Questions about Affirm vs PhonePe
Who is the CEO of Affirm Holdings, Inc. and PhonePe?
Affirm Holdings, Inc. is led by Max Levchin and PhonePe is led by Sameer Nigam. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Affirm Holdings, Inc. founded vs PhonePe?
Affirm Holdings, Inc. was founded in 2012 — 3 years before PhonePe, which was founded in 2015. Affirm Holdings, Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger PhonePe.
How many employees does Affirm Holdings, Inc. have compared to PhonePe?
Affirm Holdings, Inc. employs approximately 2,358 people, while PhonePe employs approximately 20,000. PhonePe has the larger workforce at 20,000 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 PhonePe headquartered?
Affirm Holdings, Inc. is headquartered in United States and PhonePe is headquartered in India. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded Affirm Holdings, Inc. and PhonePe?
Affirm Holdings, Inc. was founded by Max Levchin, Nathan Gettings, Jeffrey Kaditz, Alex Rampell. PhonePe was founded by Sameer Nigam, Rahul Chari, Burzin Engineer.
Which company has a longer operating history — Affirm Holdings, Inc. or PhonePe?
Affirm Holdings, Inc. has been operating for approximately 14 years, making it the more established of the two companies. PhonePe has been in operation for around 11 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 PhonePe overview