Parfin aims to accelerate institutional adoption of blockchain by creating solutions that simplify access to the ecosystem whilst maintaining the highest standards for security, robustness and compliance.

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.