Fintech Parfin, the Web 3 infrastructure that has a platform for custody, trading, tokens and digital asset management, has raised $15 million in an initial investment round led by Framework Ventures.
Other participants in the round are L4 Venture Builder (B3 investment fund), Valor Capital Group and Alexia Ventures. The funds from the contribution will be used to further develop existing products, as well as to launch solutions such as Parchain, a new generation of blockchain-authorized EVM.
“Having access to these resources in a complex and challenging market gives us more confidence in Parfin’s strategy, technologies and products,” says Marcos Ferriato, CEO and Co-Founder of Parfin. “Despite strong growth in DeFi and the cryptocurrency industry becoming more accessible, most organizations have yet to fully embrace and integrate with Web 3 due to a range of concerns around regulatory requirements and technical security risks,” says Brandon Potts, of Framework Ventures.
For Pedro Meduna, co-founder of L4 Venture Builder, Parfin is an excellent partner. “With this move and the new capital increase, we hope to further strengthen our relationship and that Parfin will continue to implement the roadmap to deliver digital infrastructure at the corporate level, aligning market experience with technological innovation.” The contribution of L4VB Resources to the Company will only terminate after the Fund has been approved by the local regulators in Brazil.
In 2021, Parvin has already received a contribution of R$42 million, led by Valor Capital and Alexia Ventures, and with participation from Vórtx. Fintech was founded in 2019 by Viriato, a former partner at BTG, as well as Cristian Bohn and Alex Buelau. Headquartered in London, it connects institutional investors with many players in the cryptocurrency market, such as exchanges, banks and custodians.