Parafin, which was just nominated to the 2024 Fintech Innovation 50, assists businesses that develop and integrate financial services for their sellers, including payment processors, vertical SaaS, and marketplaces.

The financial facility, supplied by SVB's national fintech practice, will help Parafin finance companies operating on prestigious platforms like DoorDash and Amazon. Parafin determines eligibility and generates customized finance offers using an underwriting model that is based on machine learning and sales success. Tens of thousands of firms have benefited from Parafin's services since its 2020 launch, and $5 billion in offers have been made.

According to Parafin CEO Sahill Poddar, "small businesses often face barriers to financing." The objective of Parafin is to assist them in overcoming such obstacles and obtaining the necessary funding. We are excited to collaborate with Trinity and SVB, since this will broaden our range of financial services and enable us to provide sellers with quick and flexible funding to grow their companies.

According to Brian Foley, Market Manager for SVB's Warehouse and Fintech department, "Parafin is helping sellers, creators, and entrepreneurs bridge their cash flow needs, invest in their growth, and focus on what they do best: running their business." "SVB is pleased to maintain our solid partnership with Parafin and offer them the guidance and financial solutions they require to expand and support more entrepreneurs."

According to Steven Lambe, Managing Director of Trinity Capital's Warehouse Lending, "We're proud to partner with the teams at Parafin and SVB to provide this warehouse financing facility." "Parafin's outstanding financing platform will keep providing flexible capital solutions to small and medium-sized businesses."

SVB, a pioneer in the fintech sector, offers fintech customers specialized banking services, unique financing options, and payment solutions such as payment processing, warehouse lending, venture debt, and APIs.