Affirm, a San Francisco, CA-based financial technology company, raised $275m in debt and equity financing.
The round was led by Spark Capital Growth with participation from new investors Jefferies and Andreessen Horowitz and existing investors Khosla Ventures and Lightspeed Venture Partners. In conjunction with the funding, Jeremy Philips, General Partner of Spark Capital Growth, is joining Affirm’s board.
The company intends to use the funds to increase its loan distribution capacity, grow its merchant services efforts and develop new products.
Led by PayPal co-founder Max Levchin, Affirm provides consumers with new tools to finance their purchases at the point of sale. Its first product – Buy with Affirm – allows online shoppers to pay for purchases in multiple monthly installments offering savings compared to revolving credit lines.
The company is hiring.