deBanked

Sixty-one percent of all deals funded by Founders First Capital Partners went toward refinancing merchant cash advances. That’s intentional, according to the company, which just announced a capital raise of $19 million for one of its small business financing funds. Investors in the fund include Wells Fargo Foundation, Deutsche Bank Americas Foundation, Sunrise Banks, Community […]

FRC Balance, LLC, which owns the True Food Kitchen restaurant chain, filed for bankruptcy this week. According to the company, True Food Kitchen has closed 12 restaurants, whose final day of service was Sunday, October 4. The company’s remaining 34 restaurants across 14 states are open and serving guests as usual. Among the company’s listed […]

One striking detail emerged from Valley Bank’s acquisition of Bluevine: AI agents resolve 80% of inquiries to Bluevine’s Customer Care Center. Many companies have touted their use of AI. For Bluevine, it also supports a key customer acquisition strategy: bundling business software into its banking platform. “…we pack into the account a whole lot of […]

One of the key details revealed in the Stripe acquisition of Parafin is that Parafin originated $3 billion in funding since the company first started originating in 2021. Parafin supplied the financing infrastructure for platforms such as: DoorDash, Amazon, Gusto, SpotOn, Fullsteam, Jobber, and dozens more. Assuming the company experienced a normal growth curve, the […]

Pictured from left to right: Chief Risk Officer, Erich Wust; Chief Financial Officer, Santiago Rubio; Chief Executive Officer, Justin Leto; President, Larry Bassuk; Chief Technology Officer, Alex Klimantov. Idea Financial just closed its inaugural $100 million securitization. The technology-enabled lender offers term loans and lines of credit to small businesses. “…it’s a deeply...