Parafin announced Tuesday that it has secured $60 million in its second funding round.

The fintech startup works in tandem with companies such as food delivery service DoorDash and wellness company Mindbody to provide funding for small businesses. Parafin launched in 2020 and is led by former employees of financial services company Robinhood.

The latest funding round brings the company’s total valuation to $520 million, according to a release.

“As we started the company during the pandemic, we noticed small businesses weren’t getting the help they needed,” Parafin co-founder Vineet Goel said during an interview with Bloomberg. “We want to be the one-stop shop to enable these platforms to offer a variety of financial products.”

Grasshopper increases funding to $160M

New York City-based digital bank Grasshopper brought its total funding to $160 million after a $30.4 million equity funding round announced Monday.

Existing investors include Patriot Financial Partners, Endeavour Capital Advisors, FJ Capital Management and Carpenter & Company alongside new investor GCP Capital Partners, according to a release.

Grasshopper offers small businesses products and services for specific industries such as commercial real estate lending and yacht financing.

“Our strategic direction is set,” Grasshopper Chief Executive Mike Butler said in a statement. “Therefore, the new capital will further support our growth and solidify our ability to provide clients with leading-edge technology and personalized digital banking solutions across the business and innovation economies.”

Tabby receives $150M from US investors

Dubai-based Tabby, a buy now, pay later startup, received $150 million from U.S.-based investors Wednesday, marking the largest credit facilitation for a fintech firm located in the Persian Gulf region, according to the company.

A partial amount of financing was contributed by New York-based Atalaya Capital Management, along with San Francisco-based Partners for Growth increasing its initial $50 million investment.

The Tabby platform allows customers to pay for goods through installments, a boon to the Middle East where credit cards are less common, according to a release. The company plans on expanding into other Gulf countries such as Saudi Arabia, Kuwait and Egypt.

“As we near profitability, we’re in the fortunate position of not having to raise equity under the current market conditions,” Tabby said in a statement.

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