• FOUNDING YEAR: 2012
    LOCATION:
    United States
    REGION:
    CA
    Last Update:
    27 Jun, 2019
    Phone:
    +1 734-718-3219

Description

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:
Viewable by subscribers only
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.

PEOPLE

FOUNDERS:
Max Levchin, Nathan Gettings, Jeffrey Kaditz
Board Members and Advisors:
Keith Rabois, Jeremy Liew
NUMBER OF EMPLOYEES:
201-500
INVESTORS:
Lightspeed Venture Partners, Khosla Ventures, Andreessen Horowitz, Jefferies Group, Spark Capital, Nyca Partners, and GIC.
KEY EMPLOYEES:
Max Levchin (CEO)

TRACTION

VALUATION / MARKET CAP:
$2 Billions in 2017
VALUATION COMMENT
Third-party news sources reported that the company's valuation is around $1.5- $2 billion after the latest funding round on December 2017.
TRANSACTIONS COMMENT:
The company has issued loans worth $2 billion in 2018, which is double the loan volume in 2017. (Feb. 2019)
COMMENT:
The company has tie-ups with 2,000 retailers, including Walmart, Wayfair, Expedia, Casper, and Cole Haan. (March 2019)

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$425 Millions
DATE OF LAST FUNDING:
Dec 2017
TOTAL FUNDING COMMENT:
The company will use the new capital in part to expand the number of retailers it works with and introduce new products & services as well as for global expansion. (Dec. 2017)
FUNDING SERIES:
SERIES A
$45 Millions Closed: Jun 2014
SERIES B
$80 Millions Closed: May 2015
SERIES D
$100 Million Closed: Apr 2016
SERIES E
$200 Millions Closed: Dec 2017
COMMENTS
SERIES B : The company raised $275 million in its series B round. The equity portion is at around $80 million.
DEBT FUNDING:
$290 Millions
LISTED:
NO

LATEST RESEARCH