Affirm joined the Unicorn Club after raising multiple rounds, including a $500M Series G in 2020, reaching a $1.22B total funding milestone. Headquartered in San Francisco, California, United States, Affirm provides transparent point-of-sale installment financing for consumers and merchants, combining underwriting, loan servicing, and partner integrations to improve checkout conversions and purchasing flexibility.
Keep reading to learn how Affirm became a leading fintech platform for point-of-sale credit solutions.
What Is Affirm and What Does It Do?
Founded in 2012 by Max Levchin, Affirm is a San Francisco-based fintech platform offering point-of-sale installment financing and consumer lending products. The company employs 2,171 people and provides transparent consumer credit at checkout, merchant partnerships, and financial products that increase purchasing power without hidden fees.
Affirm combines underwriting models, fraud prevention, and partner integrations to deliver no-late-fee, transparent financing. Merchants benefit from higher conversions and larger order values, while Affirm manages credit risk and servicing. Technology investments focus on underwriting accuracy, product diversification (cards, savings), and seamless integration with the merchant platform.
How Much Funding Has Affirm Raised?
1. Series G
- Amount Raised: $500M
- Date: Sep 17, 2020
- Lead Investors: GIC, Durable Capital Partners, Lightspeed, Wellington, Baillie Gifford, Founders Fund, Fidelity, Spark Capital
- Purpose: Capital for growth, liquidity for underwriting, and merchant partnerships
2. Conventional Debt
- Amount Raised: $250M
- Date: Jun 19, 2020
- Lead Investors: Debt syndicate
- Purpose: Support lending capacity and securitization activities
3. Series F
- Amount Raised: $300M
- Date: Apr 03, 2019
- Lead Investors: Thrive Capital, Baillie Gifford, Fidelity, Wellington, GIC, Spark Capital, Founders Fund, Lightspeed, Ribbit Capital
- Purpose: Expand product set and scale merchant acquisition
Total Funding Raised: $1.22B
Latest Funding Date: Sep 2020
Latest Known Valuation: Public company (market cap varies)
Key Investors
- Founders Fund
- Details: Prominent VC with deep fintech and deep-tech bets
- Focus Areas: Fintech, biotech, defense, AI
- Notable Investments: SpaceX, Palantir, Airbnb, Stripe, Affirm
- GIC (Sovereign Wealth Fund)
- Details: Singapore’s sovereign investor with long-term capital
- Focus Areas: Tech, infrastructure, growth equity
- Notable Investments: Airbnb, Grab, Alibaba, Spotify, Affirm
- Lightspeed Venture Partners
- Details: Early to growth VC with a consumer and enterprise focus
- Focus Areas: Marketplaces, fintech, SaaS
- Notable Investments: Snapchat, Calm, Affirm, Giphy, MuleSoft
- Baillie Gifford
- Details: Long-term investor in disruptive tech companies
- Focus Areas: Growth equities across tech and biotech
- Notable Investments: Tesla, Spotify, Zoom, Affirm, Roblox
- Ribbit Capital
- Details: Fintech specialist VC backing transformative financial services
- Focus Areas: Consumer fintech, payments, lending
- Notable Investments: Coinbase, Robinhood, Affirm, Credit Karma, Nubank
Where Is Affirm’s Headquarters?
Affirm is headquartered in San Francisco, California, United States, close to major e-commerce partners and fintech talent pools.
What’s Next for Affirm?
Affirm will continue diversifying its product suite, including cards, savings, and BNPL offerings, deepen merchant integrations, optimize underwriting models, and pursue international growth while navigating regulatory environments.
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