Embedded lending for marketplaces and SaaS: a short honest list
Who this is for
The founder, COO, or head of fintech at a marketplace, vertical SaaS, or payments platform that already sees merchant sales or payouts and wants to offer SMB working capital inside that product. You need a short diligence cut after bouncing off a vendor roundup, not a consumer BNPL shopping list.
Pair this with How to pick embedded lending for the decision tree. The lending hub is the full editorial table. Order here is cluster fit, not a score.
Wall-off. This shortlist is SMB / platform working capital. It is not a consumer BNPL marketplace roundup and not cards. Consumer point-of-sale installment names that live on the lending hub (home improvement and retail apply-and-buy) are pointed from pick-lending, not crowned here.
Shortlist (live /lending names only)
Every row below is already on lending as of this page’s updated date. Capital model and lender-of-record posture follow that live table and the listing pages. Public pricing means a usable platform buy rate, factor rate, or APR on marketing. If the site does not publish one, the cell says not published. This directory does not invent APRs or factor rates.
| Name | Best for | Not for | Capital model | Lender of record posture | Public pricing |
|---|---|---|---|---|---|
| Parafin | Platforms that want white-labeled merchant working capital with Parafin running underwriting and the stack | Consumer checkout credit; a published buy rate; live capital with no sales conversation | Platform working capital (bank-originated program) | Celtic Bank on the live table; Parafin runs underwriting / stack | Not published |
| YouLend | Platforms and payment providers that want white-labeled or co-branded SME working capital across YouLend’s live UK / Europe / US markets | Published platform buy rate; self-serve live start with no partnership; consumer POS installment | SME working capital | Payment institution (not a US bank charter on the live table) | Not published |
| Liberis | Platforms, marketplaces, and payment providers embedding SME working capital in Liberis live markets | Published platform rate card; self-serve partner live start; consumer checkout installment as the core product | Receivables finance | Receivables finance posture on the live table | Not published |
| Pipe | Platforms, PayFacs, and marketplaces embedding SME working capital in Pipe live markets | Published platform rate card; self-serve partner live start; consumer checkout installment as the core product | Merchant cash advance | MCA posture on the live table | Not published |
| Stripe Capital | Stripe Connect platforms offering no-code, embedded, or API working capital to connected merchants in live Capital markets | Users who are not Connect accounts; published platform rate card; consumer checkout installment as the core product | Platform working capital via partner originators | Partner originators | Not published |
| Adyen Capital | Adyen for Platforms balance platforms embedding component or API working capital in live Capital markets | Users not on an Adyen for Platforms balance platform; published rate card; self-serve live start with no Adyen conversation; consumer checkout installment | Platform working capital | Credit institution on the live table | Not published |
| Shopify Capital | Eligible Shopify merchants taking invite-based capital inside admin, repaid as a share of daily sales | Non-Shopify businesses; white-label Capital API for another platform’s merchants; cold apply with no offer; published rate card; consumer checkout installment | Invite-based working capital (sales share repayment) | Partner originators | Not published |
| Kanmon | B2B software platforms and business networks embedding white-labeled SMB working capital with Kanmon carrying credit risk and licensing | Published platform rate card; self-serve partner live start; consumer financing; consumer checkout installment | SMB working capital | Licensed lender; Kanmon carries credit risk / licensing on live posture | Not published |
| Jaris | Payments-enabled companies and SaaS platforms embedding white-labeled or API business loans for US SMB merchants | Published platform rate card; self-serve partner live start; consumer financing; consumer checkout installment | Business loans | Partner bank as loan issuer on current marketing / footer posture | Not published |
| OatFi | B2B payments and software platforms embedding payables, receivables, or commercial charge-card capital for business buyers and suppliers | Published platform rate card; self-serve partner live start; consumer financing; consumer checkout installment | B2B payables / receivables / commercial charge card | Licensed lender; OatFi carries licensing and credit decisioning on current footer posture | Not published |
Names on /lending not in this shortlist. GreenSky, Acorn Finance, Synchrony, and Bread Pay are live on the lending hub as consumer point-of-sale credit. They are out of scope for this marketplace / SaaS working-capital cut. Use pick-lending if that is the job. No off-directory name was added. If you need a name that is not on lending, flag it to Vert before treating it as a listing.
Decision notes
Facts vs verdict. The table cells above are facts from the live hub and listings (fit, license posture, start shape, public pricing stance). The notes below are editorial judgment. They are not a rank.
Name the capital model before the logo. Embedded lending is the channel. Merchant cash advance is one product shape. Receivables finance, bank-originated loans, and licensed-lender working capital are different paper. If marketing says “embedded capital” and the contract is a receivables purchase, name it that way.
Who is the lender of record. Ask who the merchant agreement names, who funds, and who services. Parafin, Kanmon, and OatFi put underwriting or licensing on their own posture. Stripe Capital, Shopify Capital, Jaris, and GreenSky-class programs put partner banks or partner originators on the table. You are usually a platform or referrer. Logo on the screen does not make you the lender.
Processor-tied capital is shortest and least portable. Stripe Capital and Adyen Capital assume those platforms. Shopify Capital is not a white-label API for someone else’s merchants. If you might change processors, read the standalone platform rows instead.
Public pricing is almost all not published. That is normal for this category. It is also why vendor “best of” pages that print neat APR bands without a source are not diligence. Get factor rate or APR, holdback, and your take (bounty vs share of book) in writing. Do not invent math on this page.
Brand risk is the real kill criteria. Slow-week holdbacks, surprise factor math, and ugly servicing land on your support queue if the offer lives in your product. Veto a partner that will not show sample merchant disclosures, servicing ownership, and what happens if you turn the offer off.
Related
- How to pick embedded lending: Decision tree (MCA-shaped vs bank-originated vs consumer installment).
- Lending: Full live table. Editorial order only.
- Embedded lending, Merchant cash advance, Know Your Business
- Platform payments ladder: If the open job is still taking a card rate, not capital.
FAQ
Is this a ranked top 10?
No. It is a short Best For / Not For cut of names already on Vertical Fintech. Order is cluster fit. Nobody buys a slot.
Why is every public pricing cell “not published”?
Because these programs keep platform buy rates, factor rates, and APRs off marketing sites. Acorn Finance and Synchrony publish packaging notes on consumer-side rows elsewhere on the hub. The SMB working-capital rows in this shortlist do not publish a usable platform rate card. Ask in diligence.
Does embedding capital make us the lender?
Usually no. Confirm the named originator or receivables purchaser on the agreement and on the customer-facing offer. If only your logo appears, you still inherited the brand.
Should we just turn on our processor’s capital product?
If merchants already live on that processor’s platform accounts, it is often the shortest path (Stripe Capital on Connect, Adyen Capital on Adyen for Platforms, Shopify Capital inside Shopify admin). It is not portable. If you need a white-label program you take across stacks, read the standalone platform rows.
Can you add a vendor that is not on /lending?
Not on this page. Flag the name to Vert. Do not invent a listing from a press release.
Back to the guides. How a name gets on the short list:How we pick.