Parafin, an embedded financial infrastructure company, has announced the renewal and expansion of its warehouse credit facility, increasing its borrowing capacity and reducing its cost of capital.
The upsized facility is supported by Silicon Valley Bank (SVB), a division of First Citizens Bank, alongside Trinity Capital and EverBank, which joins the syndicate as a new A-note lender. The arrangement builds on a $125m warehouse facility established with SVB and Trinity Capital in 2024.
The expanded credit line will allow Parafin to broaden its embedded financing offer for small businesses, delivering products directly within platforms they already operate on, including Amazon, DoorDash, Gusto, TikTok Shop and Walmart.
The company says the majority of its fundings are directed to repeat borrowers, a pattern it attributes to consistent demand from growing small businesses using embedded capital to bridge cash flow gaps and fund expansion.
To date, Parafin has provided financing to nearly 50,000 businesses across the United States, with total funding surpassing $2bn.
Parafin co-founder and CEO Sahill Poddar said, “Small businesses are core to our economy, yet access to the debt markets remains one of their most persistent challenges. We built this company to change that: to embed fast, fair, and flexible credit products directly into the platforms small businesses already use every day. This facility upsize from our banking partners gives us the capacity to reach even more of them.”
SVB FinTech group market manager Brian Foley said, “By helping address financing, Parafin is enabling entrepreneurs to stay focused on building and scaling their businesses. SVB is proud to support this next phase of Parafin’s growth by providing financial infrastructure and insights that will help the company’s continued expansion.”
EverBank lender finance director Jonathan Lustig said, “EverBank is pleased to support Parafin as it continues to expand and scale its embedded finance platform for small businesses. Our participation in this credit facility reflects our commitment to delivering tailored lending solutions that address the unique needs of our clients. We look forward to continuing to build our strategic relationship with Parafin.”
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