Parallel Finance
Offers margin staking, auction loans, staking derivatives, and an AMM curve that enables significantly higher capital efficiency for DOT and KSM holders.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor investor investor investor investor investor | €0.0 | round |
| investor investor investor investor investor investor | €0.0 | round | |
| investor investor investor investor investor investor investor | €0.0 Valuation: €0.0 | round | |
| investor investor investor | €0.0 Valuation: €0.0 | round | |
* | $5.0m Valuation: $500m | Early VC | |
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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Parallel Finance, founded in 2021 by Yubo Ruan, is a decentralized finance (DeFi) platform that has expanded to describe itself as a "DeFi Super App". Ruan, an entrepreneur, developer, and investor, previously founded 8 Decimal Capital, a blockchain-focused venture capital fund. This background in the blockchain and investment space provided a foundation for the creation of Parallel Finance.
The company initially focused on the Polkadot ecosystem, with the goal of increasing capital efficiency for DOT and KSM stakers. It has since evolved to a multi-chain platform, supporting both Polkadot and Ethereum. The platform offers a comprehensive suite of DeFi services within a single application, including lending, staking, and trading. One of its key offerings is margin staking, which allows users to stake their assets while still having access to liquidity.
Parallel Finance has also introduced "Nirvana," which is described as an AI-native financial infrastructure. This system is designed to enable autonomous AI agents to analyze markets and execute complex financial strategies in a decentralized environment. The company has received backing from prominent investors, including Sequoia Capital and Founders Fund.
Keywords: decentralized finance, DeFi, AI-native, multi-chain, lending, staking, trading, margin staking, Polkadot, Ethereum