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Affirm (company)

Affirm (company)

Affirm is a financial technology services company offering installment loans to consumers at the point of sale.

Affirm is a financial technology services company that is offering installment loans to consumers at the point of sale. The company offers online shoppers the ability to pay for goods in installments through short-term loans. The option to finance purchases with Affirm appears on the websites of thousands of merchants, ranging from Walmart Inc. to Expedia Group Inc.

Affirm offers a platform for digital and mobile-first commerce and consists of a point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused application. The company generates its revenue from merchant networks, via virtual card networks and more. Its major share of revenue generation is geographically generated from the United States.

Affirm was launched in 2012 by CEO Max Levchin, who co-founded the company. Affirm trades on Nasdaq; it went public in January 2021 and has a market capitalization of $13.9 billion. The company has the mission to deliver honest financial products that improve lives.

Affirm purports to offer a new spin on consumer financing: helping people to afford to buy the things they want, without getting into unmanageable debt.

Timeline

September 2020
Affirm raises a $500,000,000 series G round from Baillie Gifford, Durable Capital Partners, Founders Fund, Lightspeed Venture Partners, Spark Capital, Wellington Management Company and Wellington Managment.
April 3, 2019
Affirm raises $300m in Series F

The round was led by Thrive Capital. Other investors include Sound Ventures, Fidelity, Wellington Management, and Baillie Gifford. This round brings total financing to about $800m. Affirm's valuation was brought to $2.9b.

April 2019
Affirm raises a $300,000,000 series F round from Baillie Gifford, Fidelity International, Founders Fund, Khosla Ventures, Sound Ventures and Thrive Capital.
December 11, 2017
Affirm raises a $200,000,000 series E round from Caffeinated Capital, Founders Fund, GGV Capital, Khosla Ventures, Lightspeed Venture Partners, Ribbit Capital and Spark Capital.
December 2017
Series E $200m
October 13, 2016
Affirm raises a $1,000,000,000 venture round from Morgan Stanley.
April 13, 2016
Affirm raises a $100,000,000 series D round from Andreessen Horowitz, Caffeinated Capital, Founders Fund, Jefferies, Khosla Ventures, Lightspeed Venture Partners and Spark Capital.
May 6, 2015
Affirm raises a $275,000,000 series B round from Andreessen Horowitz, Jefferies, Khosla Ventures, Lightspeed Venture Partners and Spark Capital.
June 9, 2014
Affirm raises a $45,000,000 series A round from Khosla Ventures, Lightspeed Venture Partners and Nyca Partners.
2012
Affirm was founded by Max Levchin.

Funding Rounds

Patents

Further Resources

Title
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Affirm

Web

News

Title
Author
Date
Publisher
Description
By KEN SWEET
December 1, 2021
AP NEWS
SAN FRANCISCO (AP) -- As Americans shop for the holidays, they will likely see a swarm of offers to get their gifts now but pay for them later in fixed monthly installments. Fueled by several hot Silicon Valley startups as well as a push by the big credit card companies, "buy now, pay later" is now available for purchasing a $1,500 Peloton exercise bicycle as well as a $60 floral bouquet.
Alex Wilhelm
September 21, 2021
TechCrunch
Klarna's CEO says he's 'nervous' to take the company public. But the public market for BNPL companies actually feels pretty strong at the moment.
Charles Mandel
September 9, 2021
BetaKit
Two unicorns, Shopify and Israeli ecommerce marketing startup Yotpo, have signed a multi-year partnership, with Shopify also making an investment.
Ingrid Lunden
September 9, 2021
TechCrunch
Scalapay, a buy-now, pay-later (BNPL) technology provider that has made significant headway with retailers and consumers in Europe and in categories like fashion, has closed a round of funding that it will be using to fuel its expansion ambitions. The startup has raised $155 million at a $700 million valuation. Tiger Global is leading this [...]
Omar Faridi
August 31, 2021
Crowdfund Insider
Japanese BNPL Fintech Paidy looking into potential IPO this year as pay later services become wildely-adopted.
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References

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