As the year draws to a close, we reflect on the incredible progress we’ve made. We’re filled with gratitude for our partnerships and pride for our joint success. This year we’ve reached significant milestones that solidify our position as a key player in the tech-enabled financing ecosystem. Here’s a closer look at what we’ve accomplished over the course of this remarkable year.

Improving experiences for our partners

We introduced a series of powerful platform upgrades designed to elevate our partners' experience and drive growth for their capital programs. Key enhancements to the partner dashboard include seamless sub-platform switching, advanced webhook capabilities, improved CRM integrations, and real-time notifications. 

We continued to iterate on our merchant experience with new features like more precise forecasting, dynamic repayment rates, and fee discount campaigns. Our investments in AI-driven improvements have accelerated application processing, which has allowed us to streamline disbursements for greater efficiency and reduce the amount of time it takes for a small business to get funded. 

These improvements help simplify operations and empower our partners and their merchants to achieve even greater success.

Securing growth through new debt facilities

A robust financial foundation is crucial to continue experimenting with and scaling our products,. On that note, this year we closed new debt facilities totaling $250M with Silicon Valley Bank, Jefferies, and Trinity, allowing us to support even more small businesses. These partnerships underscore the confidence leading institutions have in our vision and ability to drive meaningful outcomes for our customers.

Going international

We kicked off our international effort by introducing capital programs in Canada. By geographically expanding our services, we're providing Canadian businesses on Mindbody and DoorDash the financial flexibility they need to thrive. As part of this launch, we built critical infrastructure needed to offer our products internationally, such as money movement and capital markets. We have ambitious goals to leverage this infrastructure to grow our geographic footprint even more in 2025.

Growing our product suite with term loans

We expanded our product suite by introducing term loans. We designed these for more established merchants and merchants who want greater control over cash flow. Whether it’s investing in new equipment, expanding operations, or managing everyday expenses, our term loans can support the unique needs of growing businesses. This addition underscores our dedication to helping businesses thrive at every stage of their journey.

Expanding our reach with Walmart and TikTok

This year, we launched capital programs on Walmart and TikTok, two platforms that are redefining the digital and e-commerce landscape. Every platform that integrates Parafin feeds back into the ecosystem. With every new platform that we onboard, our data gets richer and our models get sharper. This leads to better decisions and more greater adoption across all platforms. Whether it's social commerce on TikTok or retail excellence on Walmart, we are helping businesses access the working capital they need — exactly when they need it. 

Taking Parafin to new heights with Notable and Redpoint

We raised $100 million in our Series C funding round. This round was led by Notable Capital, with significant participation from Redpoint Ventures and support from our existing investors, GIC, Ribbit Capital, and Thrive Capital. This funding will enable us to further innovate our product suite, expand into new markets, and scale our operations to better meet the growing demand for our services. We’re grateful for the trust our investors have placed in us, and we’re excited about the possibilities this funding unlocks.

Looking ahead

This year has positioned us for even greater impact in the coming months. We remain committed to providing tech platforms with the financial solutions they need to help their merchants thrive. With new products and expansion opportunities on the horizon, we’re eager to continue pushing the boundaries of innovation and delivering value.

Thank you for being part of our story. Here’s to an even more impactful year ahead. Stay tuned — big things are coming!

Cheers,

The Parafin team

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