Stripe to Acquire Parafin, the Embedded Lender Behind Toast and DoorDash
What's happening
Stripe has agreed to acquire embedded finance platform Parafin, the lender that powers credit products for platforms including Toast, DoorDash, Gusto and Jobber. Parafin, founded in 2020, has helped more than 60,000 businesses access capital and supports embedded finance across roughly 18,000 platforms, according to the coverage. Financial terms of the deal were not disclosed; the acquisition follows Stripe's earlier purchases this year (including Clerky) and is part of its push to scale embedded credit and strengthen Stripe Capital.
Why it's trending
Platforms and processors are doubling down on embedded lending as Stripe moves to scale credit offerings across its merchant and platform footprint.
SignalNewly emerging, confirmed across 1 independent source type.
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Stories per dayAngles you could write
If you use Toast, DoorDash or Gusto, the credit options behind those apps are about to change, Stripe just bought Parafin, the embedded lender powering them all.
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Original sources7
- Stripe to Acquire Parafin, the Embedded Lender Behind Toast and DoorDash
Stripe agrees to acquire Parafin, the embedded lender behind Toast, DoorDash and Gusto. What it means for Stripe Capital and YouLend.
Embedded Finance ReviewOct 2 - Stripe Agrees to Acquire Embedded Finance Platform Parafin
Payment infrastructure fintech Stripe has agreed to acquire embedded finance platform Parafin. The move comes about a month after the California-based company acquired legal infrastructure startup Clerky, marking Stripe’s third acquisition this year and its 24th overall. Financial terms of the agreement were undisclosed. Founded in 2020, Parafin offers platforms like DoorDash, Gusto, Jobber,
FinovateOct 2 - Stripe to buy embedded finance platform Parafin
Stripe has agreed to buy embedded financial products platform Parafin. Financial terms of the deal were not disclosed.
FinextraOct 1
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