Parafin Announces Agreement to Be Acquired by Stripe

Gunderson Dettmer represented Parafin, a leading embedded financial products platform, in its agreement to be acquired by Stripe, the programmable financial services company.

Parafin supports some of the largest and most complex platforms in the world, including DoorDash, Gusto, Jobber, and Mindbody, by providing credit offerings for their small business customers. With Parafin, Stripe will strengthen its support for ambitious platforms while bringing more credit to the small businesses driving economic growth.

“We started Parafin to give small businesses access to the modern credit products that were only available to large companies,” said Sahill Poddar, co-founder and CEO of Parafin, in the announcement of the transaction. “Stripe’s financial infrastructure and global reach will help us move faster and serve millions more businesses through the platforms they rely on.”

The Gunderson deal team was led by corporate partner Joe Raffetto and included corporate associates Joe McGinley, Marissa Boykin, and Catherine Kelly, M&A partner Andrew Luh and associates Alex Walsh and Jacob Levy, data privacy partner Anna Westfelt and associate Carrie Brown, strategic transactions and licensing partner Jesse Birbach and associates Sarah Syed and Janice Poon, regulatory partner Gregory Kinzelman, tax partner Mark Foster and associates Morgan Otway and Rui Fang, executive compensation partner Michael Richman and associates Erik Ward and Becca Xu, and employment and labor of counsel Claudia Renert.