Startups
Parafin Raises $100 Million, Bumps Valuation to $750 Million
- Firm offers loan products, spend management and savings tools
- Valuation was boosted from $520 million at last equity raise
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Parafin, a financial-technology startup run by former Robinhood Markets Inc. employees, raised $100 million in a late-stage round that may signal renewed investment in a category that has struggled to navigate a dry-up in venture capital funding.
The financing, which comes at a $750 million valuation, was led by Notable Capital, with participation from Redpoint Ventures, the San Francisco-based firm said in a statement Tuesday. Existing investors Ribbit Capital, Thrive Capital, and GIC Pte, Singapore’s sovereign wealth fund, also participated in the round.