Parker has raised a $157M funding round to offer customizable rolling payment terms for businesses.
The funding was structured in both equity and debt.
- Valar
Ventures led the equity portion of the deal, providing $31.1M in
funding. Another $70M in debt funding was provided by Triple Point
Capital and Jefferies.
- Jefferies offered an extra $50M that is contingent on specific milestones.
- The
company offers a platform that aims to help businesses hold on to their
cash for longer by providing them with flexible rolling payment terms.
- Parker offers up to 90-day rolling payback terms and up to $10M in card limits.
- The company has processed over $300M since its inception.
- Some of its clients are:
- Canopy,
- Amour Vert,
- Italic,
- SpikeBall,
- and Caraway.
