Parfin raises $15 million to promote web3 solutions in Latin America

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In Brief

Parfin receives $15 million in funding

The seed round was led by Framework Ventures, with participation from Alexia Ventures, Valor Capital Group, and L4 Venture Builder

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Web3 infrastructure provider Parfin whose aim is to provide web3 infrastructure solutions to Latin America has raised $15 million in a seed round.

Framework Ventures led the fundraising; Alexia Ventures, Valor Capital Group, and L4 Venture Builder also participated.

Parfin offers secure digital asset custody, trading, tokenization, and management, as well as a permissioned blockchain solution for regulated entities. Since its founding in 2019, the company has been working on secure web3 solutions, such as Crypto as a Service (CaaS) that allows organizations to launch crypto quickly.

The company will use the funds to continue developing its existing products as well as launch new products. These include EVM permissioned blockchain network Parchain, whose design will “enable DeFi and asset tokenization for regulated entities with a focus on privacy, portability and interoperability.”

The company is planning a Latin America expansion as they have seen a gap in the market. As Viriato explained, the company has no competitors there at the moment.

“Raising these funds in such a complex and challenging market deepens our confidence in Parfin’s market strategy, technology, and products. 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.”

Marcos Viriato, CEO and co-founder of Parfin.

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Karolina Gaszcz

Karolina is a writer and journalist with a background in literary studies. She loves exciting tech solutions and art, and NFTs are often a perfect amalgamation of the two. Outside of work, she’s a plant mom, a vintage fashion enthusiast, and a gamer.

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