Affirm co-founder and CEO Max Levchin. Foto: picture alliance für DLD, licensed under Creative Commons

Affirm, the popular ‘buy now, pay later’ service has announced that it’s submitted a confidential filing with the U.S. Securities and Exchanges Commission (SEC) for a public listing, coming just on the heels of a $500 million funding round that the company closed in September. Affirm is looking to go public after years as a private company and with over $1.3 billion raised from a slew of investors. The company is looking to go public eight years after its founding and a successful streak as a fintech company. Affirm’s ‘buy now, pay later’ service is now used by over 5.6 million US and Canadian customers, providing purchase installment loans as an alternative to traditional credit cards.

Affirm was founded by Max Levchin, an entrepreneur who previously co-founded the popular payments service PayPal. He founded Affirm after exiting PayPal and another succeeding company, Slide, to Google in 2010. Levchin will apparently be seeing his second IPO after having previously been at PayPal when the company went public in 2002 prior to its sale to eBay in that same year. 

Among investors who stand to count profits in the case of an Affirm IPO include the likes of Thrive Capital, Founders Fund, Spark Capital, Baillie Gifford, GIC, Khosla Ventures, Andreessen Horowitz, and Ribbit Capital among others. As noted by a previous report, Affirm is said to be targeting a valuation of up to $10 billion on the public markets.

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