STRIPE AGREES TO ACQUIRE PARAFIN TO EXPAND EMBEDDED CREDIT FOR SMALL BUSINESSES

Summary from the TLDR Fintech newsletter

Stripe has agreed to acquire embedded lending platform Parafin, which powers credit products for platforms including DoorDash, Gusto, Jobber, and Mindbody and has provided financing to more than 60,000 businesses. The deal will expand Stripe Capital with Parafin's credit, Pay Over Time, and Spend products, strengthening Stripe's push to make its 18,000+ platform customers broader financial hubs for small businesses.