Parafin closed a $93M debt facility led by Jefferies and Trinity Capital Inc. to enhance its capital offerings for small businesses.

Aug 28, 2024•over 1 year ago

Amount Raised

$93 Million

San FranciscoFintechFinancial ServicesSoftware

Investors

Trinity Capital Inc.Jefferies

Description

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 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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Funding Insights

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