Stripe completes its acquisition of Parafin

Stripe has closed its acquisition of Parafin, the embedded financing company whose credit products run inside platforms such as DoorDash, Gusto and Jobber. Parafin says the deal closed on November 11.

Stripe agreed to buy Parafin on September 30. Parafin lets a platform offer its small business customers financing under the platform's own brand, underwritten on sales data, and Stripe says Parafin has helped more than 60,000 businesses get capital since 2020. Stripe says the two will work together to expand revenue opportunities for platforms and help small businesses grow, including a wider range of credit products.

Parafin says existing offers, outstanding financing and repayment terms are unaffected. The announcements don't include financial terms.