Barcelona-based Parallel has closed a financing round worth 350,000 euros, with the aim of accelerating the development of its product, which allows for intelligent document exchange. This startup was born to help professionals improve their productivity, often lost among emails. Specifically, the platform helps locate documentation without having to search for it in long email chains and reminds its users of information they still need to upload.
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The operation has been carried out with angel investors from Spain's technological and legal ecosystem, including the founders of companies such as Captio, Doctoralia, and Force Manager. The company has also secured the support of Bankinter, through its Venture Capital program.
Parallel's CEO, Derek Lou, conceived this project while working at Cuatrecasas as a lawyer. "During my seven years as a lawyer, I lost more than two hours a day trying to obtain and review my clients' information necessary for work. I got lost in the endless chain of emails trying to locate the documents I needed. And I saw that it was a common thing," explains Lou, who warns that tasks like these mean losing 20% of the workday.
Created at the end of 2019, the startup expects to reach a team of eight employees during 2021, focused especially on product improvement and commercialization. The team led by Lou is completed by Alex Romera and Santi Albo.