![[Funding news] NYC-based Parker Secures $20Million in SeriesB Round Funding](https://startuprise.io/wp-content/uploads/2024/11/NYC-based-Parker-Secures-20Million-in-SeriesB-Round-Funding.webp)
Parker, an e-commerce financial platform, has raised $20 million in a Series B funding round, led by Valar Ventures with support from Y Combinator.
The company plans to use the funds to strengthen its market position. Founded by Yacine Sibous and Milan Ray, it offers financing for eCommerce businesses based on their revenue and cash balance. This means their funding grows as their business grows, with limits up to $10 million.
Read also – [Funding news] NC-based mPATH Secures $3Million in Funding
It helps eCommerce founders manage expenses like inventory, offering up to 90 days to pay for purchases, providing the liquidity needed for business growth without worrying about credit limits.
About Parker
Parker also offers a card to cover business expenses and provides tools to track key metrics, helping businesses grow profits and unlock their full potential.
