Parallel Markets
Parallel Markets provides data management solutions for financial institutions, emphasizing efficient business onboarding through technologies such as know your business (KYB), ultimate beneficial ownership (UBO) mapping, and customer due diligence (CDD). The company also offers a Web3 KYC/AML solution that employs the Parallel Identity Token for the verification of individual and institutional investors.
- Category: Compliance / Governance / Risk
- Location: New York, New York, United States
- Founded: 2018-01-01
- Total funding: 22059889
- Website: https://parallelmarkets.com
Product & Features
- iCapital streamlines digital identity, investment onboarding, and compliance verification for financial institutions.
- The platform automates KYC/KYB, AML, and 506(c) Accreditation compliance processes, enhancing customer onboarding experiences.
- Clients leverage a turnkey onboarding solution for all fund investors across institutional and wealth management channels.
- iCapital creates a universal, reusable investor identity, eliminating duplicative profiles and compliance checks.
- The solution includes automated data collection and document management for both individual and institutional clients.
- iCapital provides continuous monitoring for sanctions, PEPs, and negative news with real-time alerts.
- Customizable workflows capture diverse documents and data, adapting to regional and risk requirements.
Notable Customers
- Morningstar
- Tabono Capital
- AlphaCore
- Alumni Ventures
- Mainshares
- Cash Flow Portal
- Fidelity
- UMB
- iCapital
- Latham & Watkins LLP
Founders & Team
- Dan Sutera
- Brian Muller
Funding Rounds
- Series A — $7M (2022-02)
- Seed — $4.3M (2020-03)
Recent News
Investors
- Alumni Ventures
- Comcast Ventures
- Eniac Ventures
- Lux Capital
- RiverPark Ventures
- Supernode Ventures
- Union Square Ventures
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Frequently Asked Questions
What is Parallel Markets?
Parallel Markets provides data management solutions for financial institutions, emphasizing efficient business onboarding through technologies such as know your business (KYB), ultimate beneficial ownership (UBO) mapping, and customer due diligence (CDD). The company also offers a Web3 KYC/AML…
What does Parallel Markets do?
iCapital streamlines digital identity, investment onboarding, and compliance verification for financial institutions. The platform automates KYC/KYB, AML, and 506(c) Accreditation compliance processes, enhancing customer onboarding experiences. Clients leverage a turnkey onboarding solution for all fund investors across institutional and wealth management channels.
Who are Parallel Markets's customers?
Parallel Markets's customers include Morningstar, Tabono Capital, AlphaCore, Alumni Ventures, Mainshares, Cash Flow Portal.
Who founded Parallel Markets?
Parallel Markets was founded by Dan Sutera and Brian Muller.
How much funding has Parallel Markets raised?
Parallel Markets has raised 22059889 across 2 funding rounds.
Who are Parallel Markets's investors?
Parallel Markets's investors include Alumni Ventures, Comcast Ventures, Eniac Ventures, Lux Capital, RiverPark Ventures.