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Start-ups · Legaltech

Parallel

parallel.so ↗ ·Barcelona ·Pre-seed

Parallel is a Barcelona-based software company that makes AML (anti-money laundering) and KYC (know your customer) compliance software for regulated non-bank businesses such as law firms, corporate service providers, real estate companies, B2B fintechs and fund administrators. Its SaaS platform brings customer onboarding into one workflow: smart forms, ID verification, PEP and sanctions screening, risk scoring, e-signatures, ongoing monitoring and renewals, with integrations into CRM and ERP systems. More than 100 regulated companies use it, including Cuatrecasas, SeQura, Talenta, Lexidy, Adlanter and Devengo, and the company reports sustained profitability. Parallel was founded in Barcelona in late 2019 by Derek Lou, a former Cuatrecasas lawyer, together with Alex Romera and Santi Albo. It first built a tool for exchanging documents between companies and their clients and moved to focus on AML/KYC in 2024. It raised a €350,000 seed round from Bankinter's venture capital programme and business angels from Spain's tech and legal sectors, including founders of Captio, Doctoralia and ForceManager.

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