Parafin Launches Spend, an Embedded Business Credit Card for Platform SMBs
Parafin announced the launch of the Spend Card on Jun 24, 2026, a revolving business credit card program that platforms can offer to small businesses without directly partnering with or becoming a bank. The card uses business performance data for underwriting, requires no personal credit checks or guarantees, and provides a revolving line of credit rather than a charge card. 360 Payments, an integrated payments provider, is already live on the product. Nav, a financial hub for small businesses, plans to launch soon.
Parafin handles program management, capital, credit operations, and support on behalf of its platform partners. The product expands Parafin's embedded financing suite, which already serves over 50,000 small businesses across its platform network.
- Expands Parafin from embedded lending into card issuing, positioning it as a full-stack embedded finance provider competing with players like Marqeta and Stripe Issuing in the platform SMB segment
- Demonstrates the convergence of card and lending infrastructure in BaaS, where platforms increasingly bundle credit and spend management as a single embedded offering
- NewsAOL — Jul 2026