Affirm (NASDAQ: AFRM) and Canada Pension Plan Investment Board announced a renewed and expanded forward-flow agreement under which CPP Investments will commit $1.7 billion to purchasing Affirm installment loans over 24 months, with the ability to increase the commitment to $2.2 billion.

The agreement is expected to support approximately $8 billion in consumer loan volume over its two-year term. Since 2019, CPP Investments has purchased nearly $14 billion in Affirm assets through forward-flow agreements and asset-backed securitizations.

Affirm reported $46 billion in gross merchandise volume for the 12 months ending March 31, 2026, and serves nearly 27 million active consumers. As of March 31, 2026, the company's total funding capacity reached $28.2 billion.

"CPP Investments has been one of our most valued capital partners since the earliest days of our program, and this renewal reflects the trust and track record we've built together," said Michael Linford, Chief Operating Officer of Affirm.

"Affirm has established a leading position in a large and growing segment of consumer finance by offering transparent payment solutions that resonate with both consumers and merchants," said Paras Vira, Managing Director, Head of Americas Structured Credit at CPP Investments.

The information is based on a press release statement from the companies.