Parker
“Can a performance-underwritten e-commerce charge card become the embedded financial OS for internet businesses and the vertical SaaS platforms that serve them?”
Founded2019
HQNew York, NY, USA
FoundersYacine Sibous, Milan Ray
Total raised$157M+ (equity and debt)
Latest roundSeries B, 2025
IndustryFintech / SMB banking
The story
Founded in 2019 via Y Combinator, Parker initially focused on e-commerce corporate cards with performance-based underwriting — positioning itself against Brex and Ramp for DTC and marketplace sellers. It emerged from stealth in 2023 with $157M in combined funding and quickly added treasury accounts and bill pay. By 2025 it pivoted toward an embedded-finance infrastructure play (Parker for Platforms), offering white-labeled cards, credit, treasury, and AP to vertical SaaS companies and marketplaces. Despite a Series B and 1,000+ customers, Parker filed for bankruptcy in May 2026.
Product timeline
2019
Founded as part of Y Combinator Winter 2019 cohort, targeting e-commerce financial products.· pivot
2022
Raised seed round and Series A equity; secured $120M in debt funding from Triple Point Capital and Jefferies.· banking
2023
Emerged from stealth with $157M in combined equity and debt funding; launched corporate charge card for e-commerce businesses with performance-based underwriting.· card
2024
Expanded product suite to include treasury accounts, bill pay/AP, and international wire capabilities.· banking
2025
Raised Series B of $140M and launched Parker for Platforms — an embedded finance API for vertical SaaS and marketplace customers.· pivot
2026
Filed for bankruptcy in May 2026 and reportedly shut down operations.· pivot
The stack
3 layers disclosed in Parker’s embedded-finance stack
Lending
Performance-based corporate charge card with rolling 90-day repayment termsCredit lines for e-commerce sellersInventory financing / bridge credit for marketplace sellers
Sponsor bank
in the full report
FX & payouts
in the full report
Accounting gap: none
2 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.