Digital Assets Infrastructure Provider Parfin Raises $10M in Series A Funding

• The company plans to reach $16 million in a second closing of its Series A round.
• Funds will be used to strengthen its global expansion, with an emphasis on Latin America, Europe and Asia, among other projects.
• Parfin’s flagship product, Rayls, is an Ethereum Virtual Machine (EVM) blockchain system that unifies permissioned and public blockchains, focused on enterprise-grade solutions.

Parfin, a digital assets infrastructure company, said it raised an initial $10 million in a Series A investment round that it expects to reach $16 million by the end of a second closing.

The company will use the funds to expand its enterprise-grade blockchain, Rayls, hire more staff and fund its global expansion, with a focus on Asia, Latin America, and Europe.

“With this new funding, we can help more banks and financial institutions realize new sources of revenue and stay relevant by leveraging the efficiency, security, and transparency of digital assets,” CEO and co-founder Marcos Viriato said in a statement.

The round was led by ParaFi Capital and included crypto investment firm Framework Ventures, L4 Venture Builder, and Núclea as participants. The company said it has raised $38 million so far. Its previous round, in January 2023, was for $15 million and led by Framework Ventures.

Parfin’s clients include B3 Digitas, a digital asset services subsidiary of B3, the Brazilian stock exchange; and Banco BV, one of Brazil’s largest banks.

Rayls, launched in June 2024, is an EVM blockchain system that unifies permissioned and public blockchains focused on enterprise-grade solutions. The product is aimed at initiatives such as financial instrument tokenization projects, the development of central bank digital currencies (CBDCs), and intra-institution transactions.

Parfin said Rayls is being used in the official pilot conducted by the Central Bank of Brazil to launch its CBDC.