Parker, a provider of corporate credit cards targeting ecommerce businesses, emerged from stealth and announced that it has raised USD 157 million in equity and debt funding; the majority of which was closed in 2022.

Its most recent fundraising round was a USD 31.1 million Series A headed by Valar Ventures, which followed a USD 5.9 million seed round. Furthermore, it secured USD 70 million in funding, consisting of venture debt from Triple Point Capital and warehouse debt from Jefferies, with the warehouse debt facility including an uncommitted option to increase by USD 50 million.

The company aims to allocate the funds toward R&D across product, engineering, and go-to-market initiatives, while it prepares to expand across the country during the year.

As of March 2023, it had processed more than USD 300 million in transaction volume with close to USD 500 million in run rate. Its notable customers include Amour Vert, Italic, SpikeBall, Canopy, and Caraway.

Founded in 2019, Parker was part of the Y Combinator winter 2019 cohort, and it offers a digital platform to assist ecommerce businesses to manage their finance and pay expenses using its corporate credit card. The company provides a credit limit of up to USD 10 million and offers a 60-day payback period. It primarily targets middle-market companies with annual sales between USD 3 million and USD 100 million.