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PayPal Vet Max Levchin Bags $45 Million and CEO Title at His Online-Lending Startup

Max Levchin, a founder of PayPal and Slide, has raised $45 million over the past year for his young startup Affirm and has decided to run the company as CEO, he confirmed on Monday. Affirm, which launched last February, analyzes a bunch of different data about an online shopper before deciding to issue near-instant credit to them to complete purchases on partner e-commerce sites. Affirm grew out of Levchin’s tech incubator HVF, as did the fertility app Glow.

This article originally appeared on Recode.net.