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.
It’s one of the largest funding rounds on Polkadot’s Kusama network according to Parallel and follows a $2 million pre-seed round for the protocol in June.
