Walmart Marketplace and Parafin Announce New Program to Offer Financing for Sellers
SAN FRANCISCO--(BUSINESS WIRE)--Sep 11, 2024--
Walmart Marketplace and Parafin announced a new initiative today to provide sellers with capital through the Walmart Marketplace Capital program. Eligible sellers can seamlessly access financing through Parafin, an approved Walmart Marketplace solution provider, to grow their businesses and prepare for the upcoming holiday retail season.
Parafin, the leader in embedded finance, provides ready-to-launch financial services to marketplaces, vertical SaaS, payment processors, and more. The financial infrastructure company offers full-scale financial services programs, and employs machine learning to analyze sales data from millions of businesses to determine offer eligibility and terms. Since Parafin’s launch in 2021, it has served tens of thousands of businesses and extended over $8 billion in offers via platforms including Worldpay, Mindbody, and more. Walmart joins Parafin’s existing eCommerce footprint, alongside other world-class retail marketplaces.
“Parafin is on a mission to help grow small businesses,” said Sahill Poddar, CEO of Parafin. “Walmart is a leader in the small-medium business economy and is driving life-changing growth for these businesses that ultimately deliver on Walmart’s mission of helping people save time and money. We are incredibly fortunate to begin working with Walmart to offer SMBs new resources to grow on Walmart Marketplace.”
To learn more about Parafin’s program, please visit marketplace.walmart.com/walmart-marketplace-capital or email media@parafin.com.
About Parafin
Parafin is a financial infrastructure company that provides platforms with embedded financial products for their small business sellers by abstracting the complexity of capital markets, underwriting, servicing, compliance and customer support. By powering the financial services of marketplaces and payment processors, small businesses are able to run and grow themselves despite uncertain economic conditions. In less than three years, Parafin works with Amazon, DoorDash, Walmart, TikTok, Worldpay, and more platforms to serve hundreds of thousands of businesses and extended over $8 billion in offers. Parafin was founded in 2020 by Sahill Poddar, Ralph Furman, and Vineet Goel and is backed by Ribbit Capital, Thrive Capital, and GIC.
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media@parafin.com
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: TECHNOLOGY PAYMENTS FINANCE OTHER RETAIL FINTECH PROFESSIONAL SERVICES SMALL BUSINESS SOFTWARE RETAIL
SOURCE: Parafin
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