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Parafin Closes $93M Debt Facility with Jefferies and Trinity Capital Inc.

Aug 28, 2024•almost 2 years ago

Contract Type

partnership

San FranciscoFinancial ServicesSoftwareFintech

Description

Parafin, a leading innovator in embedded finance, announced the closure of a $93M debt facility with Jefferies and Trinity Capital Inc. The funding, with the potential to increase to $187M, will support Parafin’s ability to offer capital to small businesses.

Company Information

Company

Parafin

Location

San Francisco, California, United States

About

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.

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