Parafin secured $125 million in a warehouse facility from Silicon Valley Bank and Trinity Capital Inc. to expand financial service offerings and capacity to supply sellers with fast and flexible financing.
Parafin secured $125 million in a warehouse facility from Silicon Valley Bank and Trinity Capital Inc. to expand financial service offerings and capacity to supply sellers with fast and flexible financing.
04/09/24, 12:00 PM
Location
san franciscoMoney raised
$125 million
Industry
fintech
financial services
software
Investors
Trinity Capital Inc., Silicon Valley Bank (Svb)
Silicon Valley Bank (SVB), in partnership with Trinity Capital Inc., has provided a $125 million warehouse facility to fintech infrastructure startup, Parafin, to support its expansion of financial service offerings and capacity to supply sellers with fast and flexible financing.
Company Info
Location
san francisco, california, united states
Additional Info
Parafin is a financial infrastructure company that provides platforms with embedded financial products for their small businesses by abstracting the complexity of capital markets, underwriting, servicing, compliance, and customer support. By powering the financial services of marketplaces and payment processors, small businesses can run and grow themselves despite uncertain economic conditions. In less than three years, Parafin has launched on Amazon, Walmart, Worldpay, and more platforms to serve hundreds of thousands of businesses and extended over $8 billion in offers. Parafin was founded in 2020 by Sahill Poddar, Vineet Goel, and Ralph Furman, and is backed by GIC, Notable Capital, Redpoint Ventures, Ribbit Capital, and Thrive Capital.