Parcl

Overview
News
Decentralized Finance (DeFi)?
Product stageSegments
Seed
?
Investment Platforms
?

Parcl is a Solana-based platform that enables users to invest in digital square feet of real estate around the globe. The platform issues native tokens named “Parcls” that are tied to a proprietary valuation index named the “Parcl Price Feed” (PPF) that represents the median price per square foot/meter in each real-world location. It tracks underlying price movements of the real estate assets represented by each Parcl geo-boundary and updates it in real time. Users can also stake their Parcl tokens and/or stablecoins in liquidity pools to earn passive income.

Parcl launched its testnet in March 2022, which saw over 300,000 on-chain transactions in the first 10 days after the launch. The protocol planned to launch a second testnet in late May 2022 and its mainnet sometime in late Q2 2022.

Key customers and partnerships

In April 2024, Parcl, entered a strategic partnership with SkyBridge Capital, an investment management firm. While the specific terms of the partnership were not disclosed, the company stated that it would leverage SkyBridge's investor networks to facilitate its growth in the area of institutional finance. 

Funding and financials

In May 2022, Parcl raised USD 7.5 million in funding from investors such as  Fifth Wall, JAWS, IA Capital, and Eberg Capital, among several others. The funds were to be used to support expansion and strengthen real estate and software partnerships.


HQ location:
New York NY USA
Founded year:
2020
Employees:
11-50
IPO status:
Private
Total funding:
USD 11.5 mn
Last Funding:
USD 7.5 mn (Series A; May 2022)
Last valuation:
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Key competitors
 
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Company profile
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