Affirm

Affirm is a financial technology services company that provides affordable ways to buy online that are more flexible and transparent than any other credit option. It offers installment loans to consumers at the point of sale.

Affirm is reinventing credit to make it more honest and friendly, giving consumers the flexibility to buy now and pay later without any hidden fees or compounding interest.

Affirm was founded in 2012 by Jeffrey Kaditz, Nathan Gettings & Max Levchin. The company is headquartered in San Francisco, California with an additional office in New York, New York.

Affirm focuses on improving the lives of consumers by delivering simple, honest and transparent financial products.

Affirm provides,"Buy with Affirm", a closed-end installment loan product through a platform. The company’s product allows users to buy goods or services offered by online merchants and pay off those purchase in fixed monthly payments. Its users can select Affirm as their payment method at checkout, fill out fields for real-time decision, chose the payment plan that fits their budget, and process their order. 

 

Affirm provides more than 5.6 million U.S. and Canadian consumers a better alternative to traditional credit cards, giving them the flexibility to buy now and pay over time at virtually any store. Unlike payment options that have late fees, compounding interest and unexpected costs, Affirm shows customers up front exactly what they’ll pay — with no hidden fees and no surprises.

 

Affirm partners with over 6,000 merchants in the U.S., helping them grow sales and access new consumers. Its merchants include brands like Walmart, Peloton, Oscar de la Renta, Audi, and Expedia, and span verticals including home and lifestyle, travel, personal fitness, electronics, apparel and beauty, auto, and more.

 

Affirm is backed by Morgan Stanley, GGV Capital, Thrive Capital, Spark Capital, Founders Fund, GIC, Lightspeed Venture Partners, Durable Capital Partners LP and others. The company raised $500M in Series G round on Sep 17, 2020. This brings Affirm's total funding to $1.5B to date. Affirm was last valued at $2.9B after it had raised a $300M Series F round in Apr 2019. 

 

Affirm went public on Jan 13, 2021, at a IPO valuation of $24B it raised $1.2B from the listing. Affirm has also acquired LendLayer & Sweep to date.

 

 

  • Year founded: 2012
  • Funding Info: $1.5B over 8 Rounds (Latest Funding Type: Series G)
  • Yearly Revenue: NA
  • Employee Size: 501-1,000
  • Business Valuation: Valued $24B at IPO as of Jan 13, 2020
  • City/Town: San Francisco
  • State: California
  • Country: United States
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