Affirm (company)

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, Fidelity Management & Research Company, Founders Fund, GIC Pte Ltd, Lightspeed Venture Partners, Spark Capital and Wellington Managment.

September 2020

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, GIC Pte Ltd, 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.

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Funding rounds

People

Name

Role

Aaron Ligon

Employee

Alexander Haniotis

Employee

Alexis Zhu

Employee

Amruth Venkatraman

Employee

Andrew Qian

Employee

Andrew Waterman

Employee

Andy Huang

Employee

Arman Madani

Employee

Artem Shnayder

Employee

Asi Behar

Employee

Bailey Douglass

Employee

Benjamin Feldman

Employee

Brad Selby

Employee

Caroline Way

Employee

Charlie Songhurst

Investor

Chris Coyoli

Employee

Chris Faught

Employee

Chuan He

Employee

Dan Kaufman

Employee

Dana Edwards

Employee

David Sacks

Investor

Dylan O'Connell

Employee

Ed Lin

Employee

Eli Bingham

Employee

Eric Kobe

Employee

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Documentaries, videos and podcasts

Title

Date

Link

Companies

Company

CEO

Location

Products/Services

News

Title

Author

Date

Publisher

Description

Really, this market isn't good enough?

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.

Shopify makes strategic investment in Israeli ecommerce startup Yotpo

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.

Scalapay raises $155M at a $700M valuation as buy-now, pay-later services continue to boom

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 [...]

Japanese BNPL Fintech Paidy Looking into Potential IPO this Year as Pay Later Services Become Wildely-Adopted

Omar Faridi

August 31, 2021

Crowdfund Insider

Japanese BNPL Fintech Paidy looking into potential IPO this year as pay later services become wildely-adopted.

Affirm Pay Over Time Services Will Soon be Available to Amazon.com Clients at Checkout

Omar Faridi

August 30, 2021

Crowdfund Insider

Affirm pay over time services will soon be available to Amazon.com clients at checkout. This should give shoppers more flexibility.

Amazon teams with Affirm to offer buy-now-pay-later option

The Associated Press

August 28, 2021

ABC News

Amazon is teaming with payments company Affirm to offer online shoppers a buy-now-pay-later option that does not involve credit cards

Amazon teams with Affirm to offer buy-now-pay-later option

August 27, 2021

AP NEWS

SAN FRANCISCO (AP) -- Amazon is teaming with payments company Affirm to offer online shoppers a buy-now-pay-later option that does not involve credit cards.San Francisco-based Affirm Holdings Inc.

Canada: Paybright by Affirm Now Live on Apple for Pay Over Time at No Interest Fee

JD Alois

August 11, 2021

Crowdfund Insider

Click HERE to find out ⭐ Canada: Paybright by Affirm Now Live on Apple for Pay Over Time at No Interest Fee. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.

Affirm Securitizes $500 Million of BNPL Loans

JD Alois

August 4, 2021

Crowdfund Insider

Click HERE to find out ⭐ Affirm Securitizes $500 Million of BNPL Loans. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.

Shopify invests in US-based Loop's $65 million round | BetaKit

Meagan Simpson

July 21, 2021

BetaKit

Shopify is among of group of investors in the recent financing round for United States-based customer relationship software company Loop.

Pay Over Time Service Provider Affirm Reveals when Consumers May Prefer to Use BNPL Options

Omar Faridi

July 13, 2021

Crowdfund Insider

Pay over time or installment plans service provider Affirm reveals when consumers may prefer to use BNPL options.

Shopify, Affirm open access to buy now, pay later service for US merchants

Isabelle Kirkwood

June 11, 2021

BetaKit

Shopify and Affirm have opened up access to Shop Pay Installments for eligible Shopify merchants in the United States.

Affirm Expands Relationship with Shopify with Shop Pay Installments

JD Alois

June 10, 2021

Crowdfund Insider

Click HERE to find out ⭐ Affirm Expands Relationship with Shopify with Shop Pay Installments. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.

Katapult CEO: Going Public 'Opens New...

Christine Hall

June 10, 2021

Crunchbase News

Katapult is focused on the "buy now, pay later" space that heated up during the global pandemic.

As buy-now-pay-later startups keep raising capital, a dive into Klarna, Afterpay and Affirm's earnings

Alex Wilhelm

June 4, 2021

TechCrunch

The BNPL space is flush with consumer interest but not yet awash in profits as major players battle one another for global spend share with a glut of smaller startups hot on their heels.

BNPL Fintech Affirm Reveals Consumer Behavior, Shopping Trends, and Preferences for Pay Over Time Options

Omar Faridi

June 2, 2021

Crowdfund Insider

BNPL Fintech Affirm reveals consumer behavior, shopping trends, and preferences for pay over time options.

Resolve Raises $60M in Funding

FinSMEs

May 25, 2021

FinSMEs

Affirm spinout Resolve raises $60M for its B2B 'buy now, pay later' platform

Mary Ann Azevedo

May 25, 2021

TechCrunch

Buy now, pay later is everywhere these days, mostly focused on the consumer. Resolve -- a San Francisco-based startup in the space specializing in "buy now, pay later" capabilities for B2B transactions -- announced today that it has raised $60 million in funding. Initialized Capital led the round -- the company's first funding since its [...]

Affirm is planning a new ad campaign to stand out from rivals in the crowded buy now, pay later category

Tanya Dua

May 20, 2021

Business Insider

With its rebrand, it's trying to stay competitive in a category that's growing as people shop more online.

Key takeaways from Marqeta's S-1 IPO paperwork, including risk factors

Shannen Balogh

May 19, 2021

Business Insider

The vast majority of Marqeta's 2020 revenue (70%) came from Square, both on the seller side and via Cash App.