Simplify Logo

Full-Time

Corporate Counsel

Posted on 8/19/2024

Parafin

Parafin

51-200 employees

Provides embedded financing solutions for businesses

Fintech
Financial Services

Compensation Overview

$185k - $215kAnnually

+ Equity Grant

Senior

Remote in USA

Category
Contract Management
Legal & Compliance
Requirements
  • 4+ years of experience in a startup, FinTech, financial services company, or law firm
  • Experience drafting and negotiating contracts and MSAs
  • Exposure and experience with SME lending and funding laws
  • Ability and desire to develop, build, and implement legal controls
  • Comfort working across various business units and levels
  • Innovative problem solver
  • J.D. from accredited law school
  • Active membership in good standing in at least one state bar
Responsibilities
  • Draft, review, and negotiate a wide range of commercial contracts, including software licensing agreements, partnership agreements, and vendor contracts
  • Be a part of the negotiating team for debt facilities and manage compliance with the legal terms post-deal closing
  • Review privacy laws and assist in designing data privacy program in line with new and pending regulatory changes
  • Function as the internal go-to for litigation and arbitration proceedings
  • Review and monitor new legislative requirements that may strategically impact the company
  • Collaborate with compliance to design company controls
  • Provide counsel on lien laws and collection practices
  • Be a strategic advisor to company, taking ownership of subject matter areas to drive projects to completion

Parafin provides a financing solution designed for online platforms and their merchant partners. The service allows these platforms to offer financing under their own brand, which helps them generate revenue and build loyalty among merchants. Parafin's offerings include underwriting, funding, go-to-market strategies, servicing, compliance, and customer support. The financing is based on the sales history of the merchants, with no interest, late fees, or credit checks involved. Payments are automated and adjust according to sales, with funds available in as little as one business day. Parafin has partnered with major platforms like Amazon and DoorDash to facilitate quick and flexible financing for various business needs, such as opening new locations or upgrading equipment. The goal of Parafin is to support the growth of businesses by providing accessible financing options that also contribute to the revenue growth of the platforms they partner with.

Company Stage

Series B

Total Funding

$369M

Headquarters

San Francisco, California

Founded

2020

Growth & Insights
Headcount

6 month growth

5%

1 year growth

12%

2 year growth

86%
Simplify Jobs

Simplify's Take

What believers are saying

  • Securing a $125M warehouse facility from Silicon Valley Bank and Trinity Capital indicates strong financial backing and growth potential.
  • Partnerships with industry leaders like Amazon and Buildertrend highlight Parafin's ability to integrate seamlessly with major platforms, enhancing its market presence.
  • The quick and flexible financing options can significantly aid business growth, making Parafin an attractive choice for merchants seeking rapid capital access.

What critics are saying

  • The competitive landscape in fintech is intense, with numerous players offering similar embedded financing solutions, which could impact Parafin's market share.
  • Reliance on partnerships with major platforms means that any changes in these relationships could adversely affect Parafin's business model.

What makes Parafin unique

  • Parafin's embedded financing model allows platforms to offer branded financial services, fostering merchant loyalty and creating new revenue streams, unlike traditional lenders.
  • The company's partnerships with major platforms like Amazon and DoorDash provide a significant competitive edge in terms of market reach and credibility.
  • Parafin's financing solution is based on sales history with no interest, late fees, or credit checks, making it more accessible and flexible for merchants compared to conventional loans.

Benefits

Competitive salary & equity

Health, dental, & vision

401k plan

Parental leave

Unlimited PTO

Commuter benefits

Daily lunches

INACTIVE