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 States
Last 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.

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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

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:

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