Affirm, a point-of-sale (POS) lender, offers short-term loans that can be repaid in installments.
The company announced in July that it was considering an IPO, with a potential valuation of $10 billion through a deal with Goldman Sachs. The company was founded in 2012 and has since been partnered with companies including Walmart and Expedia Group. It was valued at $2.9 billion in April 2019 but has seen boosts since then — first to over $5 billion, and then to near $10 billion.
Over the summer, Affirm announced it would help power Shopify’s buy now, pay later (BNPL) service, called Shop Pay Installments, PYMNTS reported, allowing Shopify customers to buy goods and then pay in installments.
Max Levchin, founder and CEO of Affirm, said at the time that it is important to help businesses get on board with the rising trend of online shopping… Shopify, which offers a subscription service providing an eCommerce platform for online stores and retail POS systems, now has more flexibility through Affirm’s assistance, as well as a more seamless, quick way of checking out…