Daily News: September 26, 2018

Square 1 Provides $2.24MM Facility to Paro

Square 1 Bank provided a $2.25 million credit facility to new client Paro, an on-demand financial services platform. Proceeds from the facility will support continued growth initiatives.

Based in Chicago, Paro matches virtual, on-demand accounting and finance professionals with a variety of clients ranging from growth stage startups to enterprise businesses. Paro is backed by several leading investors including Revolution Ventures and Global Founders Capital.

“The future of work is upon us; at Paro, our mission is to empower finance and accounting professionals to embrace the future of work by doing what they love,” said Michael Burdick, Paro’s chief executive officer. “We’re accelerating the migration to the freelance economy by giving freelancers the tools to manage and grow their professional lives.”