CA-based Parafin, a innovator in embedded finance, has secured $93 million debt facility with Jefferies and Trinity Capital Inc. Their investment has the potential to increase to $187 million. The substantial funding from Jefferies and Trinity, both known for their strategic investments in pioneering technologies, will support Parafin’s ability to offer capital to small businesses.

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Earlier this year, Parafin secured $125 million from Silicon Valley Bank and Trinity Capital Inc. This investment is not just a financial boost but a strategic reinforcement of Parafin’s mission to help grow the business economy.

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Sahill Poddar, CEO and co-founder of Parafin, shared, “Our goal is to solve small business financial services at scale. We do so by seamlessly integrating our products on platforms that small businesses use to run their operations. This new funding reflects the confidence that Jefferies and Trinity have in our vision and our ability to innovate within the financial services space.”

In less than 3 years, Parafin has partnered with Amazon, DoorDash, and more platforms to serve tens of thousands of businesses and extended over $5 billion in offers. By powering the financial services of marketplaces and payment processors, sellers are able to manage and scale their businesses in evolving economic conditions.‍

“We are pleased to expand our partnership with Parafin, supporting their growth as they scale operations,” said Steven Lambe, Managing Director, Warehouse Lending at Trinity Capital. “This also marks our first formal partnership with Jefferies reflecting our intention to collaborate with leading financial institutions to provide ABL facilities for innovative companies.”

Parafin is a full-stack financial services company. Parafin enables platforms to provide financing to businesses by abstracting away the complexity of capital markets, underwriting, originations, servicing, compliance, and customer support.‍

“Jefferies is proud to continue a relationship with Parafin that began in 2021,” said Michael Wade, Managing Director, Securitized Markets Group, Jefferies. “From the outset of our relationship, Parafin has experienced continuous growth and success with a world class management team. We look forward to continued success with Parafin as they grow.”

About Parafin

Founded in 2020, Parafin provides end to end infrastructure for platforms such that they can offer business financing products to their small business service providers. By doing so we help grow small businesses and the platforms they sell their services on. Parafin launched in 2021 by Sahill Poddar, Ralph Furman, and Vineet Goel and is backed by Ribbit Capital, Thrive Capital, and GIC. Parafin provides pre-built infrastructure that enables you to offer financial services for your merchants.