This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney, one of Brazil's leading financial news publications. Follow CoinDesk Brasil on Twitter.

Parfin, a Latin American Web3 infrastructure provider, has raised $15 million in a seed investment round.

The funding was led by crypto investment firm Framework Ventures, the company said in a statement, adding that L4 Venture Builder, a corporate venture capital fund backed by the Brazilian stock exchange B3, also invested.

“Raising these funds in such a complex and challenging market deepens our confidence in Parfin’s market strategy, technology, and products,” said Marcos Viriato, CEO and co-founder of Parfin. “As the leading digital asset infrastructure solution in Latin America, we plan on using these funds to both solidify our lead and accelerate our global expansion during this crucial building period,” he added.

Parfin will use funds to expand internationally, extend its product portfolio and launch new solutions.

This article was translated by Andrés Engler and edited by CoinDesk. The original Portuguese can be found here.