lending . other lending . online loans
Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive WhatsApp community where you can engage in discussions with global industry experts!
Affirm initially branded itself as LendLayer. Affirm is a financial technology services company that offers installment loans to consumers at the point of sale.
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.
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%.
Affirm loans vary between 10% and 30% APR simple interest (0% APR is offered at select merchants).
Magento
Americommerce
3dchart,Spreecommerce
Shopify
Drupual Commerce
Upshotcommerce
demandware
Expedia
Casper
and Motorola.
RefactorU
Epicodus
Hackbright Academy
The New York Code + Design Academy
etc.
Pay over a period of time for high-value purchases.
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.
$2.9 B in 2018
For Profit
$10M+ in 2018
The company had an estimated revenue of $10Million in 2018
The company has issued loans worth $2 billion in 2018, which is double the loan volume in 2017. (Feb. 2019)
The company has tie-ups with 2,000 retailers, including Walmart, Wayfair, Expedia, Casper, and Cole Haan. (March 2019)
Jeffrey Kaditz
Nathan Gettings
Keith Rabois
Jeremy Liew
501-1000
Fidelity Management and Research Company
Max Levchin (CEO)
William Simmons
YES
8
$1.42 B
Sep 2020
Private
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)
$50M to $100M
Apr 2014
SERIES A · $45 M · Jun 2014
SERIES B · $275 M · May 2015
SERIES D · $100 M · Apr 2016
SERIES E · $200 M · Dec 2017
SERIES F · $300 M · Apr 2019
SERIES G · $500 M · Sep 2020
$100 M
NO
Sweep
Apr 2016
---
PayBright
Dec 2020
$264.21 M
LendLayer
Aug 2015
---
3,351,536
3,368,194.46
-10.58%
222
-4.31%
3.56
-5.48%
43.48%
1.04%
14,984
299
2.04%
Sign up for 7 days free trial with MEDICI Inner Circle to follow and track profiles you care about.
Be a part of the global FinTech community on WhatsApp
Affirm initially branded itself as LendLayer. Affirm is a financial technology services company that offers installment loans to consumers at the point of sale.
Affirm App for Financing
Affirm loans vary between 10% and 30% APR simple interest (0% APR is offered at select merchants).
Pay over a period of time for high value purchases.
No live users/transaction yet
51-200
Keith Rabois, Jeremy Liew
YES
$520 M
NO
SERIES A · $45 M · Jun 2014
SERIES B · $275 M · May 2015
SERIES C · $100 M · Apr 2016
SERIES D · $100 M · Oct 2016