Startup Analyze: Parallel

Markets

Parallel Markets
Contact Person: Brian Muller, CTO of Parallel Markets

Industry: Financial technology (fintech)

Parallel Markets is an identity verification and accreditation platform for financial

platforms. It provides an easy solution for companies to authenticate and verify a
user’s investor credentials and allows investors to assert profile-level information
and qualifications across platforms with a single click.

The company's mission is to simplify the onboarding and verification process for
investors and investment platforms.

Brief:

Founded in May 2018

Parallel Markets has raised a total of $19.9M in funding over 3 rounds. Their
latest funding was raised on April 7, 2023, with $8.6M.

Parallel Markets acquired Passbase - a digital identity verification, AML, and

KYC compliance solution, on March 24, 2023.

The company has launched a product called the Parallel Identity (PID)
Token, which is a fully on-chain, non-transferable identity token that
preserves the Web3 principles of decentralized anonymity while confirming
critical aspects of a wallet owner’s identity.

Products/Services:

Business Verification - Know Your Business (KYB), Ultimate Beneficial

Ownership (UBO) mapping, and Customer Due Diligence (CDD) solutions
for onboarding business partners and clients

Investor Onboarding - Solutions for investor onboarding and compliance

for funds and financial institutions

Identity Management - Digital identity verification and sharing solutions

Startup Analyze: Parallel Markets 1

 Key Clients: Banks, funds, financial institutions

Startup Analyze: Parallel Markets 2