Parafin, an innovator in embedded finance, closed a $93 million debt facility with Jefferies and Trinity Capital. Their investment, which has the potential to increase to $187 million, will support Parafin’s ability to offer capital to small businesses. Earlier this year, Parafin secured $125 million from Silicon Valley Bank and Trinity Capital.
“Our goal is to solve small business financial services at scale,” Sahill Poddar, CEO and co-founder of Parafin, said. “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.”
“We are pleased to expand our partnership with Parafin, supporting their growth as they scale operations,” Steven Lambe, managing director, warehouse lending at Trinity Capital, said. “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.”
“Jefferies is proud to continue a relationship with Parafin that began in 2021,” Michael Wade, managing director, securitized markets group at Jefferies, said. “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.”
