Finance Monthly Game Changer Awards 2020 Winners Edition

www.affirm.com We’re here to improve lives. If that means more work for us, or that we make less money, we will always take the more difficult path in favor of treating people better. “ “ USA FINANCE MONTHLY GAME CHANGERS AWARDS 2020 www. f inance-monthly .com 58 Max Levchin is a Ukrainian-born American software engineer. In 1998, soon after graduating from college, he co-founded the company that eventually became PayPal. In late 2011, Levchin started a company called HVF that was intended to explore and fund projects and companies in the area of leveraging data, such as data from analog sensors. In early 2012, the financial technology company Affirm was spun out of HVF, with the goal of building the next generation credit network. Affirm was created by Levchin, Palantir Technologies co-founder Nathan Gettings, and Jeff Kaditz of First Data. 2019 was a big year for Affirm and its CEO and Founder Max Levchin – the company raised $300 million from venture capital investors, forged a partnership with Walmart, released an app which lets consumers create a virtual card that can be used at almost any retailer, and launched a spinoff company called Resolve which applies Affirm’s pay-over-time consumer model for business purchases. In 2020, Levchin is planning to raise another $1.5 billion through a combination of equity and debt, which he’d invest into Affirm’s growth. The Silicon Valley-based point-of-sale lender currently offers instalment loans at checkout, online and in stores for 3,000 merchants and the additional funds would provide it with the resources to become even more prominent in the consumer lending market. MAX LEVCHIN CEO of Affirm