Parker, a NYC-based provider of an e-commerce financial platform, 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.
Founded by Yacine Sibous and Milan Ray, Parker is a financial platform for eCommerce businesses. The solution 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.
The suite now includes:
- 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 new analytics dashboard, 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.
Since its Series A, the company has processed over $1B in payments.
FinSMEs
09/11/2024