Affirm Stock
Fintech company offering installment loans at the point of sale
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About Affirm Stock
Affirm is a financial technology services company that offers installment loans to consumers at the point of sale. The company’s product allows consumers to buy goods or services offered by online merchants and pay off those purchases in fixed monthly payments, with an APR based on a consumer's credit check. Its users can select Affirm as their payment method at checkout, fill out fields for real-time decisions, choose the payment plan that fits their budget, and process their order. The company also claims to reach a broader population of consumers through technology and analytics that look beyond traditional FICO scores. Affirm makes loans in partnership with originating bank partner Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC.
Affirm was incorporated in 2012 and is based in San Francisco, California.
Example Affirm Installment Loans
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Source: Bloomberg; Crunchbase; Affirm
Investors
Lightspeed Venture Partners
Snap, OYO, AppDynamics, TripActions, Faire, Affirm, Netskope, LivingSocial, Weee!, ThoughtSpot
Spark Capital
Anduril Industries, Slack, Affirm, MessageBird, Discord, Rapyd, Plaid, Cybereason, Plume Design, Deel
Andreessen Horowitz
Lyft, Robinhood, Databricks, Airbnb, Instacart, Stripe, Magic Leap, Rappi, CoinSwitch Kuber, Devoted Health
Khosla Ventures
Instacart, Stripe, DoorDash, Impossible Foods, Palantir Technologies, Commonwealth Fusion, View, Zenefits, Eat Just, Opendoor
Founders Fund
Lyft, Spotify, Airbnb, Stripe, Anduril Industries, Flexport, Palantir Technologies, Wish, Compass, Zenefits
Funding History
July 2012 | $7.5M |
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December 2013 | $26.0M |
March 2015 | $72.8M |
April 2016 | $138M |
December 2017 | $243M |
March 2019 | $308M |
September 2020 | $75.3M |
September 2020 | $464M |
Management
Co-founder & CEO
Max Levchin
CTO
Libor Michalek
Press
Wall Streets Journal - Sep, 28 2019
Eyeing That Sweater? It’s Yours in Four Easy PaymentsForbes - Sep, 27 2019
PayPal Makes It Easy To Shop Ahead Of The Holiday SeasonTechCrunch - Sep, 12 2019
Max Levchin’s Affirm seeks capital amid surge in fintech fundingTechCrunch - Jun, 11 2019
Colombian point-of-sale lender ADDI nabs $12.5 million from Andreessen Horowitz