TRAILBLAZER

Max Levchin is a serial entrepreneur , a former founder of PayPal , and the CEO and Co-founder of Affirm - one of the world ’ s most successful BNPL fintech companies

But rather than hailing from a privileged upbringing , Levchin is a prime example of how hard work and ability result in success .

Born in Kyiv , Ukraine in 1975 to Ukrainian-Jewish parents , he was a sickly child who suffered from severe breathing problems as an infant that went on to affect him throughout childhood . His parents and grandmother urged him to take up the clarinet as a way to boost his beleaguered lung capacity , and there were times the family feared young Max would not reach adulthood as a result of his health issues .

Nevertheless , despite the challenges , he was a bright and hard-working student . In 1991 , when the family emigrated to the US , with very little leftover cash to start a new life in their chosen home of Chicago , he joined Mather High School and excelled academically .

A passion for computer science and innovation In 1997 , Levchin graduated from the University of Illinois with a degree in computer science . But during his time as a student , he had demonstrated an aptitude for entrepreneurship , founding not just one , but four startups alongside his studies .

They were all tech companies with a focus on online ad banners and whitelabel classified ads , marketing networks , and newspaper sites .

While three of his early attempts failed early on , one made the grade and was quickly bought up by the late 90s online advertising company LinkExchange .

The sale of this first startup enabled Levchin to move to California - which was already booming as the US hub of tech innovation . Despite having created and sold a company , Levchin was far from financially flush , and upon arriving in Palo Alto slept on a friend ’ s floor , who happened to be a student at Stanford University .

Levchin found the lure of elitist education a huge draw and according to reports , spent much time sneaking into lectures to listen to the professors , and enjoy the free air conditioning . One day , however , he attended a talk by a young entrepreneur named Peter Thiel and realised the pair had a shared vision . By 1998 , Levchin and Thiel were business partners in their first venture - a security company named FieldLink . The startup provided a data encryption service for PDAs and palm pilot devices , enabling them to serve as digital wallets . It was a disruptive idea and soon attracted the attention of the wider fintech community .

16 February 2023