FinTech: E-Commerce Focused, Corporate Credit Card Issuer Parker Raises $157M

Corporate credit card provider Parker emerged from stealth on Thursday.
Parker, a charge card built specifically for e-commerce, has raised $157 million in total funding to support the growth of online brands. The card offers differentiated features such as limits based on business performance, rolling terms, emphasis on credit duration over rewards, and software tools to help business operators invest in their best projects.
The card is aimed at mid-market, internet-native brands and retailers with $5-$200 million in annual revenue and profitable, sustainable business models. The company has been successful in sectors such as apparel, luxury goods, wellness, skincare, beauty, and food & beverage. (Medium)
Before its public launch, Parker has already processed over $300 million in transaction volume and has grown to support hundreds of brands, including big and very high-growth businesses.
The funding includes $31.1 million in Series A venture funding led by Valar Ventures, following $5.9 million in previously unannounced seed and pre-seed funding led by Valar Ventures and Y Combinator. The round also includes $70 million in debt from Triple Point Capital and Jefferies.
Parker aims to become the financial backbone for the next generation of e-commerce leaders.
“VCs are pulling back, banks and lenders are tightening up, and a charge card, used thoughtfully, has a bigger role to play than ever before,” the company said in a Medium blog.
Related Story: Mastercard Brings New Benefits To Small Business Cardholders

Latest Alternative Investment News

Digital Assets: Ledger, Maker Of Crypto Security Hardware, Raises Nearly All Of $100M Series C Round
Paris-based startup Ledger, which makes hardware wallets for cryptocurrency investors, has raised €100m ($109m) in funding, valuing the company at €1.3bn. The round was led by investors including Digital Finance…

FinTech: Cogo And Eliq Partner To Help Banking Customers Enhance The Energy Efficiency Of Their Homes
Cogo, a fintech which collaborates with banks to assist customers in decreasing their carbon footprint as a carbon footprint management firm, is partnering with Eliq, a company that specializes in…

Venture Capital: The LSP Dementia Fund Closes €260M (US$283M) To Address Dementia, One Of The Most Significant Health Crises Of Our Era
The LSP Dementia Fund has reached a final close at €260 million (US$ 283 million), surpassing its initial target of €100 million. The fund, which is managed by EQT Life…

Artificial Intelligence: The DAGGER AI Model Gives Advance Warning Of Dangerous Solar Storms
Researchers have developed an AI-based model that combines satellite data and machine learning to predict where an impending solar storm will strike on Earth, offering 30 minutes of advance warning….