Funding round
Parafin Series A
Parafin, which works in embedded financial solutions development in San Francisco, raised $34M in a Series A round announced on 21 Sep 2021, led by Ribbit and Thrive Capital. 2 firms took part. It is Parafin's first venture round on record.
$34M
Amount raised
Not disclosed
Post-money valuation
2
Investors
2 leads
Valuation
What this round says about the price
Parafin did not disclose a valuation in this round. It is Parafin's first venture round on record, 1 year after it was founded in 2020. It is 18% of the $194M Parafin has raised in the venture rounds on record. Parafin raised again 11 months later: a Series B round of $60M in Aug 2022, at $520M post-money.
Parafin's funding rounds
Parafin has 3 venture rounds on record and 2 other deals. This one is highlighted.
- Series A this round 21 Sep 2021, led by Ribbit and Thrive Capital $34M
- Series B 2 Aug 2022, led by GIC $60M$520M post-money
- Debt not a venture round 10 Apr 2024 $125M
- Debt not a venture round 28 Aug 2024, led by Jefferies and Trinity Capital $93M
- Series C 17 Dec 2024, led by Notable Capital $100M$750M post-money
Investors
Who put money in
Ribbit and Thrive Capital led the round.
Lead investors
- Ribbit backs 126 venture-backed companies new investor
- Thrive Capital backs 130 venture-backed companies new investor
Comparable rounds
How it compares
26 Series A rounds in Financial Services within a year either side disclosed an amount; the median was $15M, and this round was 2.3 times the median. The closest in time, other companies' Series A rounds in Financial Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Financial Services | 15 Sep 2021 | $10M | not disclosed | Kapor Capital and KB Investment |
| Financial Services | 12 Oct 2021 | $10M | not disclosed | Atomico |
| Financial Services | 5 Nov 2021 | $50M | not disclosed | GIC |
| Financial Services | 16 Jul 2021 | $10M | not disclosed | Motley Fool Ventures and Serena Ventures |
| Financial Services | 14 Jul 2021 | $5.0M | $19M | not named |
| Financial Services | 15 Dec 2021 | $70M | $350M | General Catalyst |
| Financial Services | 9 Jun 2021 | $16M | not disclosed | not named |
| Financial Services | 10 Jun 2021 | $15M | not disclosed | Thrive Capital |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Parafin raise in its Series A round?
Parafin raised $34M in its Series A round, announced in Sep 2021.
Who led Parafin's Series A round?
Ribbit and Thrive Capital led it.
What was Parafin's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Financial Services?
26 Series A rounds in Financial Services within a year either side disclosed an amount; the median was $15M, and this round was 2.3 times the median.
Did Parafin raise again after this round?
Yes: a Series B round in Aug 2022 of $60M at $520M post-money.