Affirm, a more flexible and transparent alternative to credit cards, announced a $500 million series G round of funding. The funding round was led by GIC, a returning investor, and Durable Capital Partners LP. Other returning investors include Lightspeed Venture Partners, Wellington Management Company, Baillie Gifford, Spark Capital, Founders Fund, and Fidelity Management & Research Company LLC. Affirm has raised over $1.3 billion from investors to date.
“We’re excited about this vote of confidence from both new and existing investors as we advance our mission to build honest financial products that improve lives,” said Max Levchin, CEO and founder of Affirm.
The company is also introducing an interest-free biweekly payment product for transactions as low as $50. As with Affirm’s existing monthly payment options, consumers will never be charged late or hidden fees when using this new product.
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