Parafin, the leading embedded financial infrastructure company, announced a new forward-flow agreement backed by a top New York-based alternative asset manager. Under this forward-flow agreement, up to $300 million of loans would be originated through Parafin’s platform and purchased into a rated vehicle.
Read More on Fintech : Global Fintech Interview with Rob Young, Managing Director – UK at InDebted
Building on recently announced partnerships with Goldman Sachs and EverBank, along with renewed commitment from First Citizens, this agreement expands Parafin’s long-term funding capacity, providing additional capital to support the company’s growth and increasing its ability to fund across platform partners.
The milestone comes as Parafin surpasses 50,000 unique businesses funded, with three products—working capital, BNPL, and credit card—solving a variety of financing and payments needs for small businesses across its platform partners.
“This agreement marks another important step in the capital infrastructure behind Parafin and demonstrates the strong credit quality of Parafin assets,” said Sahill Poddar, CEO and Co-founder of Parafin. “As demand for embedded financing continues to grow, this partnership gives us additional capacity to scale responsibly and provide more small businesses with fast, flexible access to the capital they need to grow.”
Catch more Fintech Insights : The AI Shift in Fraud: Why Banks Need a New Playbook
[To share your insights with us, please write to psen@itechseries.com ]
