Parafin Financed 60,000 Small Businesses With $3 Billion. Now Stripe Is Buying It

Parafin Financed 60,000 Small Businesses With $3 Billion. Now Stripe Is Buying It

The payments giant is buying the startup, which has provided financing to small businesses through platforms such as DoorDash and Amazon.

Stripe agrees to buy small-business lender Parafin

Stripe agrees to acquire Parafin

Programmable financial services company Stripe has agreed to acquire Parafin, a leading embedded financial products platform.

Stripe agrees to buy Parafin in embedded credit push

The acquisition broadens Stripe's financial services offering as demand for platform-based lending grows and small firms struggle to secure bank credit.

Parafin Is Joining Stripe

SAN FRANCISCO--(BUSINESS WIRE)--Today, Parafin announced it has reached an agreement to be acquired by Stripe. Together, the companies plan to make it faster and easier for small and medium-sized businesses to get the financing they need to thrive. Parafin was started in 2020 with a simple observation: the businesses powering the economy, such as restaurants, auto shops, salons, and contractors, are the ones the traditional financial system has …