back Back

Parafin secures $125m warehouse facility from Silicon Valley Bank & Trinity Capital

By Delisha Fernandes

April 12, 2024

  • APIs
  • Cash Flow
  • Fintech news
Share

ParafinParafin, a FinTech infrastructure startup, has raised $125 million warehouse facility from Silicon Valley Bank and Trinity Capital Inc. (“Trinity”).

The financing facility will support Parafin in providing capital to businesses on premier platforms such as DoorDash and Amazon. Parafin employs a machine learning-based underwriting model based on sales performance to determine eligibility and create personalized financing offers.

Sahill Poddar, CEO of Parafin, said, “Small businesses often face barriers to financing. Parafin’s goal is to help them overcome those challenges, and get them the capital they need. We’re thrilled to partner with SVB and Trinity, which will expand our financial service offerings and capacity to supply sellers with fast and flexible financing to scale their businesses.”

As a leader in serving the FinTech industry, SVB provides FinTech clients with specialised banking services, specialty financing and payment solutions including venture debt, warehouse lending, payment processing, and APIs.

“Parafin is helping sellers, creators, and entrepreneurs bridge their cash flow needs, invest in their growth, and focus on what they do best: running their business,” said Brian Foley, Market Manager for SVB’s Warehouse and Fintech group. “SVB is proud to continue our strong relationship with Parafin and provide them with the financial solutions and advice they need to grow and help more business owners.”

“We’re proud to partner with the teams at Parafin and SVB to provide this warehouse financing facility,” said Steven Lambe, Managing Director, Warehouse Lending at Trinity Capital. “Parafin’s impressive financing platform will continue to empower small and medium sized businesses with flexible capital solutions.”

Previous Article

April 12, 2024

The Weekly Wrap: all you need to know by Friday COB | April 12th

Read More
Next Article

April 12, 2024

Karnataka Bank announces partnership with FinTech FISDOM

Read More






IBSi Daily News Analysis

UAE, money transfer

May 23, 2024

APIs

By 2034, the digital remittance market is expected to reach $83.2bn, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

NeoFinity launches ‘NeoZAP’, a premier payment tag in India

Read More

Today

Lianlian DigiTech secures EMI license in Luxembourg

Read More

Today

Moroccan HPS acquires Ireland’s CR2 to bolster global expansion

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023