A San Francisco-based financial services company officially opened a second headquarters Thursday in Pittsburgh’s North Side.
Affirm, which partners with retail companies to offer credit for purchases at stores, will operate from the fourth floor of a building near PNC Park on Isabella Street.
It currently staffs the office with 40 employees, but company officials said that would increase to 100 by year’s end. They said the company would bring 500 new jobs to Pittsburgh over the next five years.
Company CEO Max Levchin, who helped found PayPal in 1998, said the company provides consumers an alternative to credit cards that does not include hidden fees or balloon interest payments.
“The average for Affirm is a few hundred dollars,” Levchin said. “We have never charged a penny of late fees. We’ve never charged a penny of escalating interest.”
The company hosted a ceremonial ribbon cutting in its offices that featured Pittsburgh Mayor Bill Peduto, Allegheny County Executive Rich Fitzgerald and Allegheny Conference CEO Stefani Pashman.