Parafin (a leading provider of embedded financial services) and Fullsteam (a software and payments platform serving industry-specific businesses) announced that their joint embedded capital program has surpassed $125 million in financing for small businesses.
The milestone underscores the growing role of embedded finance in expanding access to fast, flexible funding for entrepreneurs across multiple sectors.
Launched in September 2022, the partnership enables small and medium-sized businesses to secure financing directly through the Fullsteam platform, eliminating barriers that traditionally slow access to capital. Since its founding, the program has expanded across numerous Fullsteam business units — including salons, party rentals, limousine services, and breweries — offering tailored financial solutions integrated into the tools merchants already use.
Parafin’s AI-powered underwriting model and dynamic top-up system have been central to the program’s success, providing ongoing access to working capital as businesses grow. The data-driven model enables Parafin to analyze sales and risk across Fullsteam’s diverse portfolio, ensuring merchants receive funding that aligns with their performance and growth trajectory.
The results have been strong: 70% of merchants who received financing have reapplied for additional funding, signaling high satisfaction and measurable business impact. For example, J. Roberts Salon, part of Fullsteam’s Rosy Capital brand, has accepted five capital advances since August 2023, resulting in a 31% increase in daily revenue.
Both companies emphasized that the program aligns with their mission to strengthen small business ecosystems through simple, transparent, and technology-driven solutions. The funding milestone also sets the stage for future expansion, with Parafin and Fullsteam planning to extend their partnership to Canada and Puerto Rico and introduce new financial products to meet broader merchant needs.
KEY QUOTES:
“This milestone reflects the power of embedded finance to drive real business growth. By integrating capital access into the platforms businesses already use, we’re delivering access to fast, flexible funding when and where merchants need it.” —
“By integrating capital access into the platforms businesses already use, we’re delivering access to fast, flexible funding when and where merchants need it.”
Sahill Poddar, CEO and Co-founder, Parafin
“This offering fits squarely within our mission to deliver world-class financial technology to small and medium-sized businesses enabling them to grow and thrive. The simple, accessible model makes it easy for merchants to reinvest in their businesses when it matters most — and this $125 million milestone and the repeat usage is a clear testament to the impact it’s having.”
Dom Morea, President of Payments and Platform, Fullsteam
“The availability of funds to help grow your business is a true advantage. Thank you Rosy and Parafin for such a fantastic service.”
Jim Roberts, Owner, J. Roberts Salon
