Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Fintech Startup Parker Raises $20M in Series B Funding
Parker Raises Funding: A NYC-based provider, Parker, has raised $20M in Series B funding. The round was led by Valar Ventures with participation from Y Combinator.
The company intends to use the new capital to consolidate its market presence.
Parker Raises Funding In Series B Round
Founded by Yacine Sibous and Milan Ray, Parker is a financial platform for eCommerce businesses.
The funding brings the company’s total funding to $58 million in venture backing, plus $120 million in debt financing.
The platform offers capital based on merchants’ revenue and cash balance, meaning their financing grows with their business—scaling as they scale, with limits as high as $10m.
This allows eCommerce founders to pay for inventory and other business expenses with up to 90 days to pay on every purchase, giving them the liquidity they need to expand without worrying about credit limits.
Also Read: Egyptian Startup OneOrder Secures $16 Million in Series A Funding Round
Parker New Funding Goes Into Expansion
According to Forbes, the new money will go toward engineering, which is currently the biggest team in the company, the co-founders say.
But “we also need capital to grow the cards,” Sibous says. “There’s just no way to build a banking product without raising venture money. You need to raise credit facilities and you need equity to do that.”
The company has expanded its suite, it now includes advanced tools that deliver insights and provide better budgeting and cash flow management.
- Banking products that offer millions in FDIC insurance, high-yield accounts, no transaction fees, and the ability to instantly open and configure multiple accounts for smarter budgeting and cash flow management.
- Accounts payable software designed to streamline payments and financial operations.
- Advanced intelligence tools that deliver insights eCommerce businesses need to monitor their finances.
The suite now includes:
The new analytics dashboard is built to give eCommerce founders and CFOs a full view of their financial health. The tool provides:
- Real-time P&L to track profitability instantly.
- LTV and CAC metrics to measure customer acquisition efficiency.
- Cash flow analysis that shows exactly where your money is going.
- Benchmarking tools that allow you to compare your performance against industry peers.
It integrates key data from Shopify, Meta, and other platforms.
Interact with us via our social media platforms:
Facebook: Silicon Africa.
Instagram: Siliconafricatech.
Twitter: @siliconafrite.
