Morgan Stanley Makes $100-Million Move on Fintech Startup Affirm Inc.

Startup lender Affirm Inc. is adding debt from Morgan Stanley as it seeks to increase its loans for tickets, trips and other big online purchases as an alternative to paying with credit cards.

The Wall Street titan is furnishing a $100 million credit line for Affirm, the four-year-old San Francisco company led by PayPal co-founder Max Levchin, which was valued at $800 million in its most recent fundraising.

It is the first time Morgan Stanley has backed the lender, which has raised cash from venture-capital investors and debt from investment bank Jefferies and others.

http://www.wsj.com/articles/morgan-stanley-makes-100-million-move-on-fintech-startup-affirm-inc-1476352982

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