Polkadot-Powered Parallel Finance Raises $22 Million for DeFi Products

BeInCrypto –

More venture capital funds are flowing into decentralized finance (DeFi) protocols with Parallel Finance becoming the latest to secure a multi-million dollar funding round.

In an announcement on Aug 30, Polkadot-powered Defi lending and staking protocol Parallel Finance said that it had raised $22 million in a Series A funding round that valued it at a cool $150 million.

The round was led by Polychain Capital with participation from the usual industry investors including Lightspeed Venture Partners, Slow Ventures, Blockchain Capital, and Alameda Research.

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