Stripe agreed to acquire Parafin on September 30. The financial terms of the agreement were not disclosed.
Parafin's infrastructure provides credit products through platforms including DoorDash, Gusto, Jobber, and Mindbody. Since 2020, Parafin has supported more than 60,000 small businesses.
The acquisition signals that embedded SME credit is moving closer to the platforms where businesses already operate, and that distribution, operating data, payments, and credit are becoming more closely connected.