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About Parker
Industries
Fintech
Financial Services
Company Size
51-200
Company Stage
Series B
Total Funding
$177M
Headquarters
New York City, New York
Founded
2020
Overview
Parker provides financial services specifically designed for e-commerce businesses aiming to grow. The company offers a unique credit card that allows businesses to maintain working capital for up to six times longer than traditional methods, addressing cash flow challenges. This credit card features a full credit period on every transaction, with repayment terms extending up to 90 days, which helps businesses keep more cash on hand. In addition to credit services, Parker also offers banking solutions and an analytics tool that integrates with various business systems, giving users a comprehensive view of their financial health. This combination of services, including performance-based underwriting and higher credit limits, sets Parker apart from competitors, making it an appealing choice for e-commerce brands. The goal of Parker is to support these businesses in achieving faster and more profitable growth.
Simplify's Take
What believers are saying
- Parker raised $157M in funding, supporting growth and expansion in e-commerce finance.
- Increased demand for integrated financial solutions aligns with Parker's comprehensive offerings.
- Expansion into wellness and luxury goods sectors indicates potential for further growth.
What critics are saying
- Increased competition from established players like Brex and Ramp in the e-commerce sector.
- Potential over-reliance on debt financing could pose financial risks if not managed properly.
- Maintaining high credit limits and extended repayment periods increases risk of defaults.
What makes Parker unique
- Parker offers extended repayment periods up to 90 days, unlike traditional credit cards.
- The company provides performance-based underwriting, offering tailored credit solutions for businesses.
- Parker integrates analytics tools, offering a holistic view of financial health for e-commerce.
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Funding
Total Funding
$177M
Above
Industry Average
Funded Over
4 Rounds
Y CombinatorIndustry standards
Benefits
Health Insurance
Dental Insurance
Vision Insurance
401(k) Retirement Plan
Company Equity
Remote Work Options
Hybrid Work Options
Growth & Insights and Company News
6 month growth
↑ 1%1 year growth
↑ 2%2 year growth
↑ 4%Parker has closed its Series B funding to help further its mission in transforming how Ecommerce businesses scale and financially operate.
If Rasmus Hojgaard earns a PGA TOUR card, he and Nicolai Hogaard will join Parker and Pierceson Coody as biological twins with active status on TOUR.
Parker, a charge card built specifically for e-commerce, has raised $157 million in total funding to support the growth of online brands.
Parker, a NYC-based charge card for e-commerce, raised $157M in funding. This included: $31.1M in Series A venture funding led by Valar Ventures, following $5.9M in previously unannounced Seed funding. $70M in debt, comprised of venture debt from Triple Point Capital and warehouse debt from Jefferies. The Jefferies warehouse debt facility includes an uncommitted option to upsize by $50M, for a combined total amount of $120M.Co-founded by Yacine Sibous and Milan Ray, Parker is a charge card for e-commerce. By combining this with customizable, rolling payments terms, the company gives e-commerce businesses a financing model built for their needs. Parker has seen success across mid-market, internet native retailers in industries like apparel, luxury goods, wellness, skincare, beauty, and food beverage. With over $300M in transaction volume since inception, the solution is used by brands like Amour Vert, Italic, SpikeBall, Canopy, and Caraway.FinSMEs16/03/2023
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About Parker
Industries
Fintech
Financial Services
Company Size
51-200
Company Stage
Series B
Total Funding
$177M
Headquarters
New York City, New York
Founded
2020
There are no jobs for Parker right now.
Find jobs on Simplify and start your career today
People Also Viewed
Discover companies similar to Parker