Parfin raises $15m in a seed round led by Framework Ventures to expand its web3 infrastructure.
Framework Ventures led the seed round, with participation from L4 Venture Builder, Valor Capital Group and Alexia Ventures.
Parfin provides web3 infrastructure solutions for institutional clients, focusing on digital asset custody, trading, tokenisation and management. The firm operates a platform designed to simplify ecosystem access while meeting compliance standards.
Parfin has secured $15m in a seed financing round led by Framework Ventures. The capital injection also drew participation from L4 Venture Builder, Valor Capital Group, and Alexia Ventures.
The business intends to direct the proceeds towards product development of existing offerings and the launch of new initiatives, including a next-generation permissioned blockchain network named Parchain.
The raise comes amidst a challenging market environment, which leadership views as validation of the company's strategic positioning in Latin America. Parfin plans to utilise the funds to consolidate its market position and pursue international expansion.
From the founder
"Raising these funds in such a complex and challenging market deepens our confidence in Parfin’s market strategy, technology, and products"
Marcos Viriato
CEO and co-founder at Parfin
Investor perspective
"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"
Brandon Potts
Principal, Framework Ventures
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Brandon Potts
Framework Ventures
Pedro Meduna
L4 Venture Builder
Valor Capital Group
Alexia Ventures
Categories
About the company
Parfin
Parfin supplies digital asset custody and web3 infrastructure for financial institutions.