Affirm Holdings Files for IPO
Posted on 11/20/2020
San Francisco-based Affirm Holdings, Inc. (Affirm) filed for its IPO. The company is engaged in personal installment loans for online purchases. Some of the company’s backers include Singapore’s GIC Private Limited. Affirm Holdings is led by PayPal co-founder Max Levchin. Other investors include: Khosla Ventures, Founders Fund, Lightspeed Venture Partners, Spark Capital, Thrive Capital, Fidelity, Wellington Management, Durable Capital Partners, Baillie Gifford, GGV Capital, Battery Ventures, Andreessen Horowitz and Ribbit Capital. Affirm operates in a highly competitive and dynamic industry.
Affirm relies on Cross River Bank to originate a substantial majority of the loans facilitated through its platform and to comply with various federal, state, and other laws. Cross River Bank handles a variety of consumer and commercial financing programs.