Who said VCs aren't investing? Silicon Valley lending startup, Affirm, secured $100m in Series D financing led by Founders Fund. With a current valuation of $800m, and this new financing round being all equity based, it seems that valuations aren't dying down completely and that the lending space still has opportunities for growth and scale ahead.
For Levchin, Affirm is something of a PayPal 2.0, using big data analytics and highly complex security systems to offer consumers an alternative to traditional banks. Affirm this year plans to roll out additional financial services and will add a number of big-box retail stores to the list of 700 or so merchants that accept Affirm for payment.