About

Founded

2021

Headquarters

San Francisco, California

Industry

Cryptocurrency

Company Description

The first omni-chain L2 blockchain that unifies liquidity from any chain into one place.

Quick Links

Website Jobs

Funding

Total Raised

$29 million

Valuation

$500 million

Significant Investors

Sequoia Capital, Founders Fund, Polychain Capital, Lightspeed Venture Partners, Slow Ventures, Pantera Capital, Blockchain Capital, Starkware, Coinbase Ventures

Company Traction

As of May 2023, Parallel has 300,000+ users (up from 3,000 users in August 2021) and has $219,408,475 in total locked value (up from $700 million in total locked value in April 2022).

As of May 2023, Parallel’s Discord community has 128,561 members.

As of April 2022, Parallel has captured 22% of the total DOT crowd loan market.

Leadership Team

Yubo Ruan: Founder & CEO of Parallel. Founder of ParaSpace.

Press

The Block (August 30, 2021): Polkadot-based DeFi protocol Parallel Finance raises $22 million in Series A funding

CoinDesk (April 5, 2022): Parallel Finance Doubles Valuation in $5M Funding Round

Parallel