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Parallel Markets
Parallel Markets (now operating as iCapital Identity Solutions) provides white-glove KYC/KYB onboarding, AML monitoring, and 506(c) accreditation verification services for the investment industry. It serves issuers, investment advisors, broker-dealers, and compliance teams handling institutional clients and individual investors.
Distributed
Description
Parallel Markets offers a suite of compliance and identity verification tools including AML Monitoring, Business Verification, Investor Onboarding, Accreditation services, and an Entity Data Manager. The company automates data and document collection from institutional clients and individuals, giving compliance teams visibility to review and monitor compliance flags on an ongoing basis. It also provides transparent KYB and corporate onboarding with beneficial owner mapping, and 506(c) accreditation services that let issuers verify investor status to expand their investor base, having facilitated over $25 billion raised to date. Through its enterprise product, the iCapital Investor Passport, it creates a universal reusable investor identity usable across the platform. Accreditation verifications are completed through iCapital Markets LLC, an affiliated registered broker-dealer and FINRA/SIPC member, reflecting the company's transition into iCapital Identity Solutions.Grant Funding
VC Funding
None
2021
$0
$10M