Ares Management Corporation, a leading global alternative investment manager, announced today that funds managed by its Alternative Credit Strategy led a $250 million revolving asset-backed credit facility for Affirm Inc. (“Affirm”), a financial technology company that provides consumers with a more simple and transparent form of credit.

The facility will help Affirm continue to scale as it undergoes a period of rapid growth and expansion. With millions of customers in the U.S., Affirm has become a recognized and trusted leader in point-of-sale finance. Consumers can use Affirm at over 4,000 merchants, many offering interest-free financing options with no late or hidden fees. Respected brands such as Walmart, Warby Parker, Verizon Visible, David Yurman, and Room & Board have all added Affirm as a payment option at checkout.

"We are excited to support Affirm in its next phase of growth,” said Jeffrey Kramer, Partner in Alternative Credit at Ares. “This investment demonstrates Ares’ firm belief in remaining supportive by providing unique financial solutions for innovative businesses throughout volatile markets.”