Paralel

What Paralel does

Paralel is a privately-held, Denver-based full-service fund administrator, distributor, and transfer agent founded in 2019 by Jeremy May, former President of ALPS Fund Services and ALPS Distributors. The company serves asset managers and fund sponsors launching and operating registered investment funds — including mutual funds, interval funds, closed-end funds, and ETFs — providing fund accounting, fund administration, transfer agency, tax administration, legal administration, Fund CCO, and distribution services. The business is conducted primarily through two entities: Paralel (the operating company) and Paralel Distributors LLC (a FINRA Member Firm and SIPC Member that provides principal underwriting, ETF distribution, and closed-end fund ATM distribution). Underlying the services is a cloud-native technology platform supporting proprietary applications including exception-based processing controls, a SOC-1 Audited transfer agency architecture, a FINRA marketing material review system, and client-branded shareholder online services.

Revenue is generated predominantly through recurring, subscription-based fees tied to fund AUM, shareholder account counts, and service scope, supplemented by transaction-based distribution fees on ETF and closed-end fund offerings. Paralel also operates Elevation Series Trust, a wholly-owned series trust that enables asset managers to launch registered funds through a shared trust structure, providing economies of scale, trust-level selling agreements, and reduced organizational overhead relative to standalone trust formation. The go-to-market is enterprise field sales, leveraging executive relationships cultivated over 20+ year industry tenures and led by a dedicated business development team targeting closed-end fund and registered fund issuers.

The competitive positioning rests on a cloud-native technology stack, a leadership team averaging more than 20 years of financial services experience (predominantly sourced from SS&C/ALPS, Brown Brothers Harriman, BNP Paribas, Janus, and Oppenheimer Funds), and bundled regulatory capabilities (FINRA membership, SIPC membership, SOC-1 audited transfer agency) that typically require years to establish. Paralel operates exclusively in the U.S. market with no disclosed geographic expansion or external institutional investment.

Name

Paralel

Legal name

Paralel

Website

https://paralel.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Paralel is a Denver-based, privately-held full-service fund administrator, transfer agent, and FINRA-registered distributor serving U.S. asset managers launching and operating mutual funds, interval funds, closed-end funds, and ETFs, with a cloud-native platform and the Elevation Series Trust shared trust solution.

Ownership category

akta.pro rank

Product category

Fund Administration Services

NAICS

Trust, Fiduciary, and Custody Activities (523991)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Fund Custody & Transfer Agency Services (FSACAHAG)

akta.pro secondary industry

Personal Trust & Fiduciary Administration (FSAEAKAA)

Keywords

• Fund administration services
• Transfer agent services
• Fund distribution services
• Tax administration services
• ETF distribution services

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Fund Administration Services: Fees for comprehensive fund administration including financial reporting, regulatory reporting, audit coordination, expense management, board report preparation, and relationship management. Revenue is recurring based on the ongoing nature of fund administration services.
2. Fund Accounting Services: Fees for daily or periodic NAV calculation, NAV performance calculation, record keeping, reporting and NAV dissemination. Typically recurring based on fund assets under administration.
3. Transfer Agent Services: Shareholder servicing, intermediary back office support, Blue Sky registration and state sales reporting, NSCC and 12b-1 payments. Revenue based on shareholder accounts and transaction volume.
4. Distribution Services: Principal underwriter and distributor services for registered funds, including ETF distribution services and closed-end fund ATM offerings. Revenue from distribution fees and underwriter compensation.
5. Legal and Compliance Administration: End-to-end management of board meeting process, regulatory filings, registration statement filings, and Fund CCO services. Ongoing compliance monitoring and regulatory exam support.
6. Tax Administration Services: IRS regulatory testing, SEC tax filing support, tax audit coordination, fiscal and excise distribution computation, year-end shareholder tax designation. Typically bundled with fund administration.
7. Series Trust Solutions: Asset managers access Elevation Series Trust's shared trust structure through Paralel, reducing operational complexities and costs. Revenue from trust administration and coordination services.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Paralel is a full-service fund administrator, distributor, and transfer agent for asset managers and their registered funds. The company provides fund accounting, fund administration, legal administration, tax administration, transfer agent services, fund CCO services, and distribution services through its cloud-native technology platform. It also operates Elevation Series Trust, a shared series trust solution that enables asset managers to launch and manage registered funds.

Product overview

Paralel is a full-service fund administrator, distributor, and transfer agent operating as a unified platform-plus-modules architecture. The core Paralel Technology Platform provides cloud-native infrastructure supporting proprietary applications and integrations, with individual service modules for Fund Accounting, Fund Administration, Legal Administration, Tax Administration, Transfer Agent Services, Fund CCO Services, and Distribution Services. The company also offers Elevation Series Trust as a series trust sub-brand enabling asset managers to launch and manage registered funds through a shared trust structure.

Differentiator

Problem solved

Functional benefit

Brands

• Elevation Series Trust: Series trust solution offering asset managers a shared trust structure to streamline the launch and management of registered funds, providing speed to market, experienced professionals, cost effectiveness, and best-in-class strategic partners.

Products and services

• Fund Accounting Services
• Fund Administration Services
• Legal Administration Services
• Tax Administration Services
• Transfer Agent Services
• Fund CCO Services
• Distribution Services
• Elevation Series Trust

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Citi Fund Services: Citi's Investor Services business provides fund accounting, administration, transfer agency, and custody for registered funds globally. Broad incumbent with greater scale and geographic reach than Paralel.
• SEI Investments: Provides investment processing, fund administration, and distribution services to asset managers and financial advisors. Overlapping with Paralel on fund administration and distribution while operating a broader investment services platform.
• SS&C Technologies: Acquired ALPS Fund Services in 2014 and now operates the largest dedicated fund administration franchise in the market, offering fund accounting, transfer agency, and distribution across thousands of registered funds. Directly comparable to Paralel on every service line and the primary incumbent Paralel is positioned against.
• BNY Mellon Investment Services: One of the largest global fund administrators, offering fund accounting, custody, transfer agency, and distribution support for registered funds. Competes with Paralel in the mid-market segment while also serving the largest asset managers globally.
• U.S. Bancorp Fund Services: Subsidiary of U.S. Bancorp offering fund administration, fund accounting, transfer agency, and distribution services to mutual fund, ETF, and closed-end fund sponsors. Broad incumbent with significantly greater scale and balance sheet than Paralel.
• Northern Trust: Provides fund administration, custody, and transfer agency services to institutional asset managers. Competes with Paralel for mid-sized registered fund mandates while serving larger institutional clients globally.

Emerging players

• Circle Partners: Smaller fund services platform providing fund accounting, administration, and transfer agency to boutique and emerging manager fund complexes. Overlaps with Paralel in target customer profile (small-to-mid asset managers) but with a more limited service bundle.

Direct peers

• Ultimus Fund Solutions: Mid-market mutual fund, interval fund, closed-end fund, and ETF administrator offering fund accounting, administration, transfer agency, and distribution support. Closely aligned with Paralel in target customer segment and service bundle, though Paralel distinguishes itself with in-house FINRA distribution.
• Brown Brothers Harriman: Privately held investment services firm offering middle-office, fund administration, custody, and transfer agency services to registered funds and alternative investment vehicles. Notably, Paralel's CTO Jonathan Vickery and Head of Product Laura Howard both came from BBH, indicating comparable service offerings and client segment focus.
• MUFG Investor Services: Provides fund accounting, administration, custody, and transfer agency for registered and alternative investment funds, formed from the combination of MUFG's fund services businesses (including Gemini Fund Services). Directly competitive with Paralel across middle-market registered fund administration.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/paralel-technologies

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Paralel