Max Levchin, co-founder and CEO of Affirm, recognizes that his users today will not be daily visitors to Affirm’s website. To help fix that he has acquired Sweep, which provides consumers with a view of their future cashflow. Data that hopefully consumers check-in on more frequently.
The app, founded in 2014, provides users with a future view of their cashflow so they can better plan ahead for things like bills and other expenses. Essentially, the app collates all of your financial activity into a single dashboard, which could function as an alternative to simply checking your account balance. And, since most Americans check their bank account balance daily, there’s a good chance Sweep’s users do the same. This is the exact type of daily engagement that Affirm is looking to incorporate into their product offerings, which makes the acquisition a perfect fit for the company.