Affirm Holdings
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Type | Public company |
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Nasdaq: AFRM | |
Industry | Finance |
Founded | 2012 |
Founders | Max Levchin Nathan Gettings Jeffrey Kaditz Alex Rampell |
Headquarters | 650 California Street, , U.S. |
Key people | Max Levchin |
Products | Consumer loans, Installment loan |
Revenue | ![]() |
Number of employees | 1,342 [2] (2021) |
Website | www |
Affirm is a publicly traded financial technology company headquartered in San Francisco, United States.[3] Founded in 2012, the company operates as a financial lender of installment loans for consumers to use at the point of sale to finance a purchase.[4][5]
History and founding[]
Affirm was founded in 2012 by Max Levchin, Nathan Gettings, Jeffrey Kaditz, and Alex Rampell[6][7][8] as part of the initial portfolio of startup studio HVF.[9] Levchin, who co-founded PayPal, became CEO of Affirm in 2014.[10]
In October 2017, the company launched a consumer app that allowed loans for purchases at any retailer.[11]
The company announced a partnership with Walmart in February 2019. Under the partnership, Affirm is available to customers in-store and on the Walmart website.[12][13]
Affirm has partnered with e-commerce platforms including Shopify,[6] BigCommerce, and Zen-Cart.[14]
On November 18, 2020, Affirm filed with the Securities and Exchange Commission in preparation for an initial public offering (IPO).[15] On December 12, 2020, it was reported that Affirm had postponed its IPO.[16] On January 13, 2021, Affirm became listed on NASDAQ with symbol AFRM, raising about $1.2 billion in its IPO.[17] By the next day, the price of shares had doubled, making Levchin's stake worth about $2.5 billion.[18] In May 2021, Affirm acquired another financial technology service company called Returnly.[19]
Affirm are Amazon's exclusive buy now, pay later partner in the United States through January 2023.[20]
References[]
- ^ Mazzilli, Meredith; Balogh, Shannen (November 19, 2020). "Affirm's IPO paperwork shows Peloton sales are a crucial part of the buy now, pay later fintech's business — and losing that partnership would 'materially and adversely' impact it". Business Insider.
- ^ "Affirm Holdings Form 10-Q". 2021-05-17.
- ^ "Affirm, Inc.: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 2019-05-08.
- ^ "Affirm: Most Innovative Company". Fast Company. Retrieved 2019-03-24.
- ^ ""Buy now, pay later": Critics concerned about new online payment plans". www.cbsnews.com. December 11, 2018. Retrieved 2019-05-08.
- ^ a b Kokalitcheva, Kia (October 27, 2015). "Lending company Affirm takes on bricks and mortar shopping". Fortune. Retrieved 2019-03-24.
- ^ Friedman, Zack (May 5, 2017). "Is PayPal Co-Founder Max Levchin Making The Next Credit Card Killer?". Forbes. Retrieved 2019-05-08.
- ^ "Analytics and Software". Founders Fund. Retrieved 2020-08-03.
- ^ MacMillan, Douglas (2014-06-09). "PayPal Co-Founder Max Levchin Raises $45 Million for Startup Affirm". WSJ. Retrieved 2019-03-24.
- ^ D'Onfro, Jillian. "PayPal Cofounder Max Levchin Is The New CEO Of A Finance Startup That Has Quietly Raised $45 Million". Business Insider. Retrieved 2019-03-24.
- ^ Cagle, Susie (2017-11-29). "Would You Take Out a Loan for a Pair of Jeans?". Racked. Retrieved 2019-03-24.
- ^ Wack, Kevin (February 27, 2019). "Walmart teams with Affirm to offer point-of-sale loans". American Banker. Retrieved 2019-03-24.
- ^ "Affirm's latest partnership brings its alternative financing to Walmart's US stores and website". TechCrunch. Retrieved 2019-05-08.
- ^ "Affirm Supports Four More eCommerce Platforms". pymnts.com. 2016-11-30. Retrieved 2019-03-24.
- ^ Alex Wilhelm, Natasha Mascarenhas (November 18, 2020). "Affirm files to go public: Rising revenue, slimming losses amid an e-commerce boom". Retrieved August 4, 2021.
- ^ https://www.wsj.com/articles/affirm-postpones-initial-public-offering-sources-say-11607801619[bare URL]
- ^ Reuters Staff (January 12, 2021). "Affirm Holdings prices U.S. IPO above target range, raises $1.2 billion". Reuters. Retrieved August 4, 2021.
- ^ Jeff Kauflin (February 8, 2021). "Inside The Billion-Dollar Plan To Kill Credit Cards". Forbes. Retrieved August 4, 2021.
- ^ "Affirm Completes Acquisition of Returnly". Press release. May 3, 2021. Retrieved August 4, 2021.
- ^ "Affirm expands Amazon partnership as buy now, pay later surge lifts revenue". Reuters. Retrieved November 11, 2021.
External links[]
- 2012 establishments in California
- Financial technology companies
- Financial services companies based in California
- American companies established in 2012
- Financial services companies established in 2012
- Companies based in San Francisco
- Companies listed on the Nasdaq
- 2021 initial public offerings
- United States financial services company stubs