Crypto financial services company PayPal Finance announced that it has completed the Pre-A round of financing. Dragonfly Capital and Parallel Ventures have become the investment institutions of this round. The amount of financing has not been disclosed. Founding partner of Parallel Ventures Zhu Yizhou said that although the crypto asset trading market is still at an early stage, lending and financial services are undoubtedly an integral part of the financial market. The emergence of PayPal has provided an important part of the industry's expansion of liquidity help.
It is reported that PayPal Finance was founded by Yang Zhou and Wang Li in July 2018 and started to focus on the lending business in the crypto financial market. After more than a year of rapid development, PayPal's financial business has expanded to crypto financial asset management services and has established close business partnerships with major global exchanges and financial service platforms.