Affirm raises $300m in Series F Equity Funding

BFSI News

Affirm-raises-300m-in-Series-F-Equity-Funding Affirm raises $300m in Series F Equity FundingAffirm, a San Francisco, California-based fintech firm, as per recent reports, has raised $300 million in a Series F funding round.

The funding round, which was led by Thrive Capital, a New York, NY-based venture capital investment firm, was participated by new investors Fidelity Management and Research Company, Baillie Gifford, Wellington Management Company LLP, and Ashton Kutcher and Guy Oseary’s Sound Ventures and returning investors Founders Fund, GIC, Spark Capital, Lightspeed Venture Partners, Moore Asset Backed Fund, LP and Ribbit Capital.

Affirm, to date, has raised over $800 million in equity investment funding. The company plans on using this new investment to hire new talent and scale its operations on a global scale. The company was founded by Max Levchin.

Affirm’s platform facilitates a purchase of any amount up to $15,000 at over 2,000 merchant sites, most of them offering interest-free financing options with no late, hidden surcharge or fees. Moreover, in past recent months, many brands and retail hunks including Walmart, Warby Parker, Verizon Visible, David Yurman and Room and Board, have partnered with Affirm for its payment solutions, at checkout.

Affirm also offers loans, which are made in partnership with the company’s originating bank partner Cross River Bank, a New Jersey-based commercial bank. Furthermore, Affirm claims last year, in 2018, the company saw a loan volume transaction exceeding $2 billion. The company has recently inaugurated a new branch office in Pittsburgh, Pennsylvania.