"More than eight years ago, we set out to take on credit cards and change the way we pay," CEO Levchin said. "We built Affirm from the ground up to align with the needs of consumers and merchants and to succeed when they succeed."
Levchin's Affirm - founded in 2012 - is a loan company that lets customers buy instantly and pay later. It’s an alternative to credit cards, where customers are not charged with late fees or any other hidden fees.
"We have served millions of consumers through thousands of merchant partners, including some of the biggest brands in the world, all without ever charging a single late fee or penny of deferred interest," Levchin said.
Wondering how customers make their payments?
The company allows customers choose a monthly payment plan of their choice - usually on 3, 6, or 12-month plans.
The company also runs a soft credit check to see if customers qualify for a loan. As per Nerd Wallet, applying for a loan with Affirm won’t affect you credit score, however proceeding with it may.
Fun fact: If you are a small business owners and want Levchin to invest in your company, make a YouTube video and send him your pitch.
"Sometimes I invest in small companies," Levchin said, in his website. "If you want to send me your 'pitch,' please consider recording a pitch video, posting it on YouTube, and sending me the link. I found this approach to be very time-efficient."
"... please do not be offended if I never respond, as I tend to be very busy," he added.