{"id":48566,"date":"2021-08-30T20:14:10","date_gmt":"2021-08-30T17:14:10","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=48566"},"modified":"2025-09-02T02:50:31","modified_gmt":"2025-09-01T23:50:31","slug":"polychain-capital-leads-22-million-funding-round-for-defi-protocol-parallel-finance","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/polychain-capital-leads-22-million-funding-round-for-defi-protocol-parallel-finance\/","title":{"rendered":"Polychain Capital leads $22 million funding round for DeFi protocol Parallel Finance"},"content":{"rendered":"<p>The Polkadot-based decentralised finance protocol Parallel Finance closed a Series A round worth $22 million. The project&#8217;s valuation reached $150 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udce2 We just raises $22 Million in Series A Funding\uff0cwhich is leading by <a href=\"https:\/\/twitter.com\/polychaincap?ref_src=twsrc%5Etfw\">@polychaincap<\/a> , The Largest Round In The Polkadot Ecosystem. <a href=\"https:\/\/twitter.com\/Polkadot?ref_src=twsrc%5Etfw\">@Polkadot<\/a> <a href=\"https:\/\/twitter.com\/kusamanetwork?ref_src=twsrc%5Etfw\">@kusamanetwork<\/a> <a href=\"https:\/\/t.co\/pISV2Wa9Wy\">https:\/\/t.co\/pISV2Wa9Wy<\/a><\/p>\n<p>\u2014 Parallel Finance (@ParallelFi) <a href=\"https:\/\/twitter.com\/ParallelFi\/status\/1432383892154032128?ref_src=twsrc%5Etfw\">August 30, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The round was led by Polychain Capital. It also included Lightspeed, Slow Ventures, Blockchain Capital and Alameda Research.<\/p>\n<p>In June the project attracted $2 million. Parallel Finance was launched five months ago and is undergoing testing on the Polkadot and Kusama networks. The protocol offers two core services: leverage lending and liquidity mining.<\/p>\n<p>Parallel Finance currently has 3,000 users. The project plans to expand its user base several-fold over the course of the year and hire new staff.<\/p>\n<p>In May, the Polkadot-based derivatives platform dTrade <a href=\"https:\/\/forklog.com\/en\/news\/polkadot-based-dtrade-raises-6-4-million-from-polychain-and-huobi\">raised $6.4 million<\/a>. Seed-round participants included Three Arrows, DeFiance, Huobi and Polychain.<\/p>\n<p>Follow ForkLog News on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full news stream, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Polkadot-based decentralised finance protocol Parallel Finance closed a Series A round worth $22 million. The project&#8217;s valuation reached $150 million.<\/p>\n","protected":false},"author":1,"featured_media":48567,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,1461,849,1133],"class_list":["post-48566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-polkadot-dot","tag-polychain-capital","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/48566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=48566"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/48566\/revisions"}],"predecessor-version":[{"id":48568,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/48566\/revisions\/48568"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/48567"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=48566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=48566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=48566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}