Wednesday, April 27, 2016

Affirm Buys Sweep.co, Will Shut Down Service

San Francisco-based point-of-sale financing provider Affirm said this morning that it has acquired Sweep, which had been developing personal finance management applications. Financial details of the acquisition were not disclosed. Affirm said that Sweep's co-founders, Jackson Gates and Asi Behar, as well as the "majority" of the Sweep engineering team, will join the company as part of the acquisition. Affirm was founded by PayPal founder Max Levchin. Sweep said that, as part of the acquisition, it will be shutting down its service as of May 25th, and will be deleting all of the account data of its users.