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Stripe Acquires Parafin, Lender Behind DoorDash and Gusto
Original: Stripe Buys Parafin, the Hidden Lender Behind DoorDash and Gusto
Stripe has acquired Parafin, a fintech company that provides embedded lending to platforms including DoorDash and Gusto. The deal brings Parafin's merchant financing infrastructure in-house at Stripe, strengthening its ability to offer loans and cash advances to businesses using its payments services. The acquisition underscores Stripe's push to expand beyond payments into financial services for online merchants.
Why now: Stripe's acquisition of a major embedded-lending provider signals its growing ambition in merchant financial services
Evidence
- Stripe Buys Parafin, the Hidden Lender Behind DoorDash and Gusto · Startup Fortune
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