Affirm
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Investors
Founders
About
Affirm is a buy now, pay later (BNPL) financial technology company founded in 2012 by Max Levchin, Nathan Gettings, Jeffrey Kaditz, and Alex Rampell as part of the initial portfolio of startup studio HVF 12. Levchin is a co-founder of PayPal. The company is based in San Francisco and went public on NASDAQ on January 13, 2021, closing its first day at $97.24 per share with a market value of $23.6 billion 3. Prior to IPO, Affirm had raised approximately $1.5 billion across 10 funding rounds 4.
Funding History
| Round | Date | Amount | Lead Investor(s) | Key Co-Investors | Valuation |
|---|---|---|---|---|---|
| Seed | 2014-04-05 | $4M | Max Levchin, Peter Thiel | — | — |
| Series A | 2014-06-09 | $45M | Khosla Ventures, Lightspeed Venture Partners | Nyca Partners | $115M |
| Series B | 2015-05-06 | $275M | Spark Capital | Khosla Ventures, Andreessen Horowitz, Lightspeed Venture Partners, Jefferies | $576M |
| Series C | 2015-09-01 | $80M | Spark Capital | Khosla Ventures, Jefferies | ~$530M post-money |
| Series D | 2016-04-13 | $100M | Founders Fund | Lightspeed Venture Partners, Spark Capital, Khosla Ventures, Andreessen Horowitz, Jefferies | $800M |
| Series E | 2017-12-13 | $200M | GIC | Khosla Ventures, Lightspeed Venture Partners, Founders Fund, Spark Capital, Caffeinated Capital, Ribbit Capital, Emerson Collective | $2B |
| Series F | 2019-04-03 | $300M | Thrive Capital | Fidelity, Baillie Gifford, Wellington Management, Sound Ventures, Founders Fund, GIC, Spark Capital, Lightspeed Venture Partners, Ribbit Capital, Moore Capital | $2.9B |
| Series G | 2020-09-17 | $500M | GIC, Durable Capital Partners | Lightspeed Venture Partners, Wellington Management, Baillie Gifford, Spark Capital, Founders Fund, Fidelity | ~$5B post-money |
| IPO | 2021-01-13 | $1.2B | — | Goldman Sachs, Morgan Stanley, Barclays (underwriters) | $23.6B (first-day close) |
Affirm priced its IPO at $49.00 per share, offering 24.6 million shares of Class A common stock and raising approximately $1.2 billion. AFRM opened at $90.90 and closed its first trading day at $97.24, valuing the company at approximately $23.6 billion 378. The Series G Preferred was priced at $19.93 per share with an approximate $5 billion post-money valuation, per the S-1 filing 9.
What Investors Say
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What Founders Say
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Sources
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Affirm Holdings, Wikipedia, accessed March 2026. https://en.wikipedia.org/wiki/Affirm_Holdings↩↩
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Affirm Investor Relations, “Management: Max Levchin,” accessed March 2026. https://investors.affirm.com/management/max-levchin/↩↩
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Built In San Francisco, “Affirm Surges to a $1.2B IPO Bringing Its Valuation to $23B+,” January 2021. https://www.builtinsf.com/articles/affirm-ipo-23b-valuation-fintech-unicorn-hiring↩↩↩
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Crunchbase News, “Affirm’s IPO Filing Reveals Nearly A Third Of Its Revenue Comes From A Single Customer,” accessed March 2026. https://news.crunchbase.com/venture/affirm-s1-ipo/↩↩
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FundBat, “Affirm (AFRM) - Funding Rounds, Valuation & Investors,” accessed April 2026. https://fundbat.com/company/affirm/↩
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Affirm Investor Relations, “Affirm announces series F round of equity funding, led by Thrive Capital,” April 3, 2019. https://investors.affirm.com/news-releases/news-release-details/affirm-announces-series-f-round-of-equity-funding-led-by-thrive-capital↩
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Affirm Investor Relations, “Affirm Announces Pricing of Initial Public Offering,” January 11, 2021, accessed April 2026. https://investors.affirm.com/news-releases/news-release-details/affirm-announces-pricing-of-ipo/↩↩
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CNBC, “Affirm Holdings prices its U.S. IPO above target range, raises $1.2 billion,” January 13, 2021, accessed April 2026. https://www.cnbc.com/2021/01/13/affirm-holdings-prices-its-us-ipo-above-target-range-raises-1point2-billion.html↩↩
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Meritech Capital, “Affirm IPO | S-1 Breakdown,” accessed April 2026. https://www.meritechcapital.com/blog/affirm-ipo-s-1-breakdown↩↩
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Affirm Investor Relations, “Affirm Raises $500M Series G Round,” September 17, 2020, accessed April 2026. https://investors.affirm.com/news-releases/news-release-details/affirm-series-g-and-biweekly-payment-option↩
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Eric Newcomer, “The Story of a Cap Table: Affirm,” Newcomer, accessed April 2026. https://www.newcomer.co/p/the-story-of-a-cap-table-affirm↩