Affirm is a payment technology platform that creates digital loans for consumers in need of short-term financial assistance. Affirm has recently made some moves to help increase its market share, including an acquisition of lenders Square Capital and TIO Networks, which will give the company a stronger foothold in the mid-market. With these two acquisitions alone, Affirm now provides lending solutions for more than 20 percent of U.S deposits and $60 billion in credit volume annually. Additionally, it has pulled back from the public markets and invested heavily into its own growth through M&A transactions since 2014. The company surpassed 500 employees in 2015, and created various leadership roles focused on technology, product and finance.
Affirm is an online consumer finance company that provides small short term loans to consumers for purchases ranging from concert tickets to medical procedures. The company was founded in 2012 by Max Levchin, Jeremy Liew and Jason Jones. It offers personal loans from $100 to $10,000 with a fixed annual percentage rate (APR) of 10%. As of Q3 2016 the company has processed more than $4 billion in loan volume and issued over 300K loans across the U.S. The company was founded in 2012 by Max Levchin, Jeremy Liew and Jason Jones. After several years of operating under the radar while the founders built their technology platform, Affirm publicly launched in July 2014 with an initial public offering on the New York Stock Exchange with a valuation of more than $1 billion. Affirm is already profitable with more than 500 employees .
Affirm has also done about 30 acquisitions, mostly smaller startups that have specialized in digital lending.