Max Levchin, co-founder and CEO of Affirm

Affirm, the US-based fintech, has raised $300 million in a Series F round led by Thrive Capital along with the participation of new investors such as Fidelity Management and Research Company, Baillie Gifford, Wellington Management Company LLP, and Ashton Kutcher and Guy Oseary’s Sound Ventures.

The funds raised, aim to assist Affirm in expanding its recruitment and scalability efforts. Post funding, the fintech has also announced new names to its executive team and board of directors. Affirm has raised $800 million in equity funding till date.

“The past year has been an incredible period for Affirm and this investment validates our stage as a mature, established and respected leader in an extremely competitive industry,” said Max Levchin, co-founder and CEO of Affirm. “I’m especially proud that we’ve built a successful financial services business that does as much good for consumers as it does for retailers and investors.”

“We continue to be impressed by Affirm’s ability to build innovative products that are impactful to both retailers and consumers,” said Joshua Kushner founder of Thrive Capital.

Founded in 2012, Affirm is a financial technology services company that offers instalment loans to consumers at the point of sale. It allows its customers to pay for purchases of any amount up to $15,000 at over 2,000 merchants, many offering interest-free financing options.

by Megha Bhattacharya
Market Analyst at IBS Intelligence