Financial Platform Parafin Announces $60M Series B Financing
Gunderson Dettmer represented client Parafin, a financial platform for online businesses, in the announcement of its $60 million Series B financing led by GIC. Parafin is full-stack embedded financial infrastructure that helps small businesses bridge their cash flow needs, invest in their growth and run their businesses better, faster and cheaper. The new capital will be used to launch new products and further establish its market leadership.
In the announcement of the transaction, co-founder of Parafin Vineet Goel said, “Small businesses have a huge, unmet need for capital and are poorly served by the status quo. We make it simple, seamless, and fast for any Platform that serves a small business to offer financial products that accelerate their small business’ growth and increase their loyalty and lifetime value.”
The Gunderson Dettmer deal team was led by Joe Raffetto and included Joe McGinley and Shagun Parekh.