Affirm

FOUNDING YEAR: 2012
LOCATION: United States
Last Update: 03/09/2020

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About

Affirm initially branded itself as LendLayer. Affirm is a financial technology services company that offers installment loans to consumers at the point of sale.

MEDICI Analysis

Affirm initially branded itself as LendLayer. Affirm is a financial technology services company that offers installment loans to consumers at the point of sale.

Focus

PRODUCTS & SERVICES

Affirm App for Financing

REVENUE MODEL

Affirm loans vary between 10% and 30% APR simple interest (0% APR is offered at select merchants).

MAIN CLIENTS

Magento

Americommerce

3dchart,Spreecommerce

Shopify

Drupual Commerce

Upshotcommerce

demandware

Expedia

Casper

Motorola.

EXISTING PARTNERSHIPS

RefactorU

Epicodus

Hackbright Academy,The New York Code + Design Academy

PRIMARY PROBLEM SOLVED

Pay over a period of time for high value purchases.

COMMENT

Helps to bring simplicity, transparency, and fair pricing to consumer credit. When you make a purchase of $100 or more with Affirm, you can pay over 3, 6, or 12 months. For purchases between $50.00–$99.99, you can pay over 3 or 6 months. Select merchants may offer different terms, including a 30-day payment option for purchases under $50.

Traction

VALUATION / MARKET CAP:

$576 M in 2015

VALUATION COMMENT:

The pre Money valuation was 477M

TRACTION COMMENT:

Affirm Now Integrated Into Oracle, NetSuite SuiteCommerce (Feb 2017)

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Affirm

About

Affirm initially branded itself as LendLayer. Affirm is a financial technology services company that offers installment loans to consumers at the point of sale.

Focus

PRODUCTS & SERVICES

Affirm App for Financing

REVENUE MODEL

Affirm loans vary between 10% and 30% APR simple interest (0% APR is offered at select merchants).

TOP PROBLEM SOLVED

Pay over a period of time for high value purchases.

Traction

LIVE USERS/TRANSACTIONS:

No live users/transaction yet

People

NUMBER OF EMPLOYEES

51-200

BOARD MEMBERS AND ADVISORS:

Keith Rabois, Jeremy Liew

INVESTORS:

Andreessen Horowitz

Jefferies Group

Khosla Ventures

Lightspeed Venture Partners

Nyca Partners

Spark Capital

Momentum

FUNDED

YES

TOTAL FUNDING:

$520 M

LISTED

NO

FUNDING SERIES

SERIES A  · $45 M  · Jun 2014

SERIES B  · $275 M  · May 2015

SERIES C  · $100 M  · Apr 2016

SERIES D  · $100 M  · Oct 2016