Affirm, a San Francisco, CA-based financial services technology company, raised $100m in Series D equity funding.
The round was led by Founders Fund with participation from existing investors Lightspeed Venture Partners, Spark Capital, Khosla Ventures, Andreessen Horowitz, Jefferies and other new investors.
The company intends to use the funds to increase loan distribution capacity, grow its merchant clientele, and expand new financial product offerings beyond point-of-sale financing.
Led by Max Levchin, and newly added Senior Vice President of Retail Len Eschweiler, Affirm provides shoppers with a solution to buy now and make monthly payments for their purchases. By leveraging technology and analytics that look beyond traditional FICO scores, the service allows customers to know upfront exactly what they’ll pay, with no hidden fees.