
Embedded capital for small businesses
parafin.com (opens in a new tab)Parafin provides small businesses with funding, spend management and savings tools through the platforms they already sell on, rather than asking them to approach a bank separately. It partners with companies including DoorDash, Amazon, Worldpay and Mindbody, and takes on the entire underlying burden — capital markets, underwriting, servicing, compliance and customer service — so the partner platform integrates once and offers financial products without becoming a lender. Traditional banks have historically underserved these merchants because the underwriting data lived with the platform, not the bank. The team comes from Stripe, Square, Plaid, Coinbase and Robinhood.