2019 Disruptor 50: No. 33 Affirm
In February the company announced that its financing options would be available in more than 4,000 Walmart Supercenters in the U.S. and would roll out to Walmart.com as well. Customers can check their eligibility for an Affirm loan online before visiting a store and get a decision in real time. Once approved, the customer gets a barcode that can be used at checkout for purchases ranging from $150 to $2,000.
In April the company announced that it spun out a new company, called Resolve, that offers the same buy-now-pay-over-time options for business purchases. Like Affirm, Resolve analyzes applications using non-traditional underwriting data. It offers net 30, 60 and 90-day terms and assumes all repayment risk. Suppliers receive full payment minus fees as soon as an order is placed.
The company has raised $1 billion since launching in 2012, including a $300 million round led by Thrive Capital in April. Other investors include Ashton Kutcher and Sound Ventures.
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