Parfin, the leading Latin American web3 infrastructure provider for secure digital asset custody, trading, tokenization and management, as well as a permissioned blockchain solution for regulated entities, has raised $15 million in a seed investment round led by Framework Ventures, a San Francisco-based venture capital firm widely known for its early entry into decentralized finance (DeFi). Additional participants in the round include the Brazilian Stock Exchange (B3) through its investment fund L4 Venture Builder, subject to regulatory approval, as well as Valor Capital Group and Alexia Ventures.
Founded in 2019, Parfin aims to create secure, robust, and compliant web3 solutions for institutions looking to explore the digital asset industry. Funds from this raise will be used to continue building out existing products, as well as launching new solutions, such as Parchain, a next-generation EVM permissioned blockchain network that will enable DeFi and asset tokenization for regulated entities with a focus on privacy, portability and interoperability.
“Raising these funds in such a complex and challenging market deepens our confidence in Parfin’s market strategy, technology, and products,” says Marcos Viriato, CEO and co-founder of Parfin. “As the leading digital asset infrastructure solution in Latin America, we plan on using these funds to both solidify our lead and accelerate our global expansion during this crucial building period.”
Parfin offers institutions web3 infrastructure solutions, which include Crypto as a Service (CaaS), an API-first solution that gives organizations the ability to quickly offer crypto to their end-users, as well as MPC (Multi-Party Computation) Custody, one of the most secure and advanced MPC custody solutions on the market. In addition, Parfin’s platform offers secure treasury management, multi-exchange trading across more than twenty major exchanges, OTC desks, and banks, as well as a comprehensive reporting suite that summarizes user activity and tax reports. With the Parchain permissioned blockchain solution, institutions can start their tokenization journey and enter the web3 ecosystem whilst remaining compliant with laws and regulations.
“Despite the massive growth of DeFi and the broader crypto industry, major institutions have yet to fully embrace and integrate with web3 due to a number of valid concerns around regulatory requirements and technical security risks,” said Brandon Potts, Principal at Framework Ventures. “As permissioned DeFi flourishes and institutions seek access to secure and compliant infrastructure solutions, we think Parfin’s highly experienced team and impressive technology stack place them in pole position to onboard the first wave of regulated entities into web3.”
“Parfin is a great partner, with a solid team and technology stack” says Pedro Meduna, Co-founder of L4 Venture Builder, an independent investment fund with B3 backing. “With this fresh capital, we think Parfin will be able to push forward in the execution of its roadmap to provide institutional-level digital asset infrastructure by bringing together market experience and technological innovation”. concludes Meduna. The investment of L4VB will only close once the recent fund is approved by local Brazilian regulators.
About Parfin
Parfin is the leading web3 infrastructure provider in Latin America. Parfin Platform offers institutions an end-to-end solution for digital asset custody, trading, tokenization and management. Parfin serves many of the largest institutions in Latin America, ranging from banks to crypto native companies.
Parfin accelerates the institutional adoption of web3 by creating solutions that simplify access to the ecosystem whilst maintaining the highest security, robustness and compliance standards expected by institutions.
To learn more please visit: www.parfin.io
About Framework Ventures
Framework is a team of technologists, researchers and investors who buy assets of, who build for, and who participate in open crypto networks. At its core, Framework is a technology company, building products and services to support the open blockchain networks that they invest in. Through its registered investment adviser, Framework Ventures Management LLC (“Framework Ventures”), the firm has backed dozens of notable companies in the decentralized finance and Web3 space.
To learn more, visit https://framework.ventures.
Information contained herein is accurate as of the date of publication and is subject to change. This is not investment advice and readers should not construe discussion of any particular organization as a recommendation to purchase or sell, or a solicitation of an offer to purchase or sell, any securities or digital assets related to such organization.
About L4 Venture Builder
L4 Venture Builder is an independent investment fund that selects projects in which B3 (the Brazilian Stock Exchange) will have equity participation in sectors with high growth potential. L4 Venture Builder operates as an independent structure, with a flexible format to develop its businesses, and may even operate in areas in which B3 is already working. The creation of L4 Venture Builder continues B3’s strategy of innovation in its core business and growth on other fronts.
To learn more visit https://en.l4vb.com