Parfin has successfully procured $15 million to accelerate the advancement of web3 solutions within Latin America.
In Brief
Parfin receives $15 million in funding
The seed funding was spearheaded by Framework Ventures, with additional investments from Alexia Ventures, Valor Capital Group, and L4 Venture Builder.
Web3 solutions provider Parfin aims to create robust web3 infrastructure for markets in Latin America and has raised $15 million in a seed round.
The fundraising initiative was led by Framework Ventures, with participation from Alexia Ventures, Valor Capital Group, and L4 Venture Builder joining in as well.
Parfin specializes in providing secure digital asset custody, trading, tokenization, and management services, along with a permissioned blockchain framework tailored for regulated entities. Since its inception in 2019, they've been focused on developing secure web3 offerings like Crypto as a Service (CaaS), enabling organizations to efficiently launch cryptocurrency solutions.
The company plans to utilize the newly raised funds to further develop its current product line and introduce new innovations. Among these is the EVM permissioned blockchain network known as Parchain, designed to facilitate DeFi and asset tokenization for regulated players while emphasizing privacy, portability, and interoperability.
Recognizing an untapped market, the company is gearing up for a major expansion across Latin America. As noted by Viriato, currently, the company faces no direct competition in the region. explained \"Securing this investment amid the current complex market landscape reinforces our belief in Parfin’s strategy, technological capabilities, and product offerings. As we lead the charge in digital asset infrastructure solutions throughout Latin America, these funds will help us solidify our lead and propel our ambitions for global expansion during this critical growth phase,\" shares.
Marcos Viriato, Parfin's CEO and co-founder.
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In line with the Trust Project guidelines Karolina is a passionate writer and journalist with a background in literary analysis. She has a keen interest in innovative tech solutions and the arts, with NFTs often serving as the perfect blend of both. Outside of her professional life, she enjoys taking care of plants, exploring vintage fashion, and indulging in gaming.
