Affirm Raises $200 Million

Financial technology company Affirm secured $200 million in Series E financing, led by GIC. Khosla Ventures, Lightspeed Venture Partners, Founders Fund, Spark Capital, Caffeinated Capital, and Ribbit Capital also participated.

Affirm offers installment loans to consumers at the point of sale with the intent of making the banking industry more accountable and accessible to consumers. Founded in 2012, Affirm lets shoppers pay for purchases across multiple months with transparent fees built into every payment, and increases conversion and basket size for e-tailers.

Affirm will use the proceeds for its growth initiatives.