NEW YORK–(BUSINESS WIRE)–In the era of globalization, Chinese entrepreneurs exude a dazzling light overseas. Hurun’s 2021 US Innovation Outstanding Awards was released on November 23. Yubo Ruan, the founder of Parallel Finance, was selected as one of “the Most Promising Persons”.
Hurun Report is the world’s leading research organization, which was founded by Hurun in 1999. It owns the “Hurun Report” magazine and the forum event series. Hurun US Innovation Outstanding Awards 2021 focuses on innovation, looking for leaders who bring new things, new methods, new paths, new benefits and other outstanding innovation results to the society.
Born in 1996, Ruan has been a serial entrepreneur. He won 13 scientific and technological invention awards and 5 patents in high school. During that time, he also founded Ali Simba Technology Co., Ltd. In college, he founded an investment agency, 8 Decimal Capital, in Silicon Valley. Most recently in 2021, he founded blockchain company Parallel Finance, which received strategic financing led by Sequoia Capital and Founders Fund (a venture capital fund co-founded by Peter Thiel). Its post-money valuation reached 250 million USD.
Josephine Chen, a partner of Sequoia Capital, is very optimistic about the vision and potential of the decentralized finance (DeFi). “What Yubo and the Parallel team built in a very short period of time made DeFi more user-friendly to institutional and retail investors. It also started the first stage of penetrating into the traditional financial sector.” This is also Sequoia Capital’s first investment in the field of Polkadot.
About Parallel Finance
Parallel Finance is a decentralized currency market protocol, which is built on the Polkadot system to provide loans and pledges. It’s the head project in the Polkadot system. For additional information, visit https://parallel.fi.