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Morgan Stanley backs PayPal co-founder's credit card-killer

SILICON VALLEY — PayPal co-founder Max Levchin has $100 million more in credit for his fintech startup Affirm, which offers short-term loans for specific purposes. Morgan Stanley is the new backer of Affirm. The San Francisco-based startup earlier this year also got a credit line as part of a $275 million debt and equity funding from Jefferies and has raised more than half a billion dollars since Levchin launched the company four years ago.
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