Parafin closed a $93M debt facility led by Jefferies and Trinity Capital Inc. to enhance its capital offerings for small businesses.
Parafin closed a $93M debt facility led by Jefferies and Trinity Capital Inc. to enhance its capital offerings for small businesses.
08/28/24, 8:41 PM
Location
san franciscoMoney raised
$93 million
Industry
fintech
financial services
software
Investors
Trinity Capital Inc., Jefferies
Parafin has secured a $93M debt facility from Jefferies and Trinity Capital Inc., which could potentially increase to $187M. This funding will bolster Parafin's ability to provide capital to small businesses integrated with platforms like Amazon and DoorDash.
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.