Founded in 2020 by Sahill Poddar, Ralph Furman, and Vineet Goel, Parafin works with companies such as DoorDash Inc. and Mindbody to build their financing arms, with a focus on lending to small businesses.
Parafin, a financial-technology startup run by former Robinhood Markets Inc. staffers, raised US$60 million ($82.8 million) in its second funding round.
GIC Pte, Singapore’s sovereign wealth fund, led the fundraising, Parafin said in a statement. GIC joined existing investors including Thrive and Ribbit Capital to value the company at US$520 million, and bring its total equity funding to US$94 million.
