Affirm
Affirm was initially branded as LendLayer. It is a financial technology services company that offers installment loans to consumers at the point-of-sale. Its underwriting model...
FOUNDING YEAR: 2012 LOCATION: United StatesLast Update: 03/06/2021
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.
Inner Circle Analysis
Affirm was initially branded as LendLayer. It is a financial technology services company that offers installment loans to consumers at the point-of-sale. Its underwriting model processes borrower's data, sourced from a merchant's website via an API, along with data points from alternative sources such as social networking websites to arrive at a credit decision. The company has recently introduced a virtual credit card that allows consumers to buy products from retailers outside its limited network. Recently, Affirm was named in the Forbes Fintech 50 For 2019 list.
Focus
PRODUCTS & SERVICES
The company offers loan products such as: Purchase Loans: It offers point-of-sale loans at checkout for online purchases. The loans can be extended to 3, 6 or 12 months and have annual interest rates between 10 and 30%.
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
and Motorola.
EXISTING PARTNERSHIPS
RefactorU
Epicodus
Hackbright Academy
The New York Code + Design Academy
etc.
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 it back 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:
$2.9 B in 2018
COMPANY TYPE:
For Profit
REVENUE
$10M+ in 2018
REVENUE COMMENT:
The company had an estimated revenue of $10Million in 2018
TRANSACTIONS COMMENT:
The company has issued loans worth $2 billion in 2018, which is double the loan volume in 2017. (Feb. 2019)
TRACTION COMMENT:
The company has tie-ups with 2,000 retailers, including Walmart, Wayfair, Expedia, Casper, and Cole Haan. (March 2019)
company provided insights
Acquisitions
ACQUIREE NAME
Sweep
ANNOUNCED DATE
Apr 2016
PRICE
---
ACQUIREE NAME
Returnly
ANNOUNCED DATE
Apr 2021
PRICE
$300 M
ACQUIREE NAME
PayBright
ANNOUNCED DATE
Dec 2020
PRICE
$264.21 M
ACQUIREE NAME
LendLayer
ANNOUNCED DATE
Aug 2015
PRICE
---
company provided insights
Web Traffic
MONTHLY VISITS
3,351,536
AVERAGE VISITS (6 MONTHS)
3,368,194.46
MONTHLY VISITS GROWTH
-10.58%
VISIT DURATION
222
VISIT DURATION GROWTH
-4.31%
PAGE VIEWS VISIT
3.56
PAGE VIEWS VISIT GROWTH
-5.48%
BOUNCE RATE
43.48%
BOUNCE RATE GROWTH
1.04%
GLOBAL TRAFFIC RANK
14,984
MONTHLY RANK CHANGE
299
MONTHLY RANK GROWTH
2.04%
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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:
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