blockworks.co
Elliptic, a blockchain analytics and crypto compliance company, raised $60 million in a Series C funding round led by Evolution Equity Partners, the company said in a statement Monday.
The round included new investment from SoftBank Vision Fund 2 and included existing investors Wells Fargo Strategic Capital, AlbionVC, Digital Currency Group, Octopus Ventures, SBI Group, SignalFire and Paladin Capital Group.
“Interest in crypto continues to grow at pace, and it’s clear that banks and tech companies have recognized that crypto is an inevitable part of our future finance and tech ecosystems,” Simone Maini, CEO of Elliptic, said to Blockworks in an email.
The fundraise will be used to help the company capitalize on this growing momentum and interest in the space through team expansion and product development, Maini said.
The London-based company provides services to traditional financial institutions, FinTechs, crypto businesses and government agencies. To date, it has raised $100 million and is on track for 100% year over year growth in revenue by early 2022, Maini said.
Elliptic was founded in 2013, and in the span of eight years, the crypto landscape has changed dramatically, Maini said. According to its website, the business has over 100 customers across 29 countries and about ⅔, or 66%, of crypto volume runs through exchanges using Elliptic, which provides more than 100 crypto assets and over 10 billion data points.
“Awareness, excitement, innovation and regulatory clarity have all grown considerably and this has changed the investment landscape for us at the same time,” Maini said. “We’ve been committed to bringing about mainstream crypto adoption for many years and that clarity of purpose has served us well,” she added.
Are you a UK or EU reader that can’t get enough investor-focused content on digital assets? Join us in London on November 15th and 16th for the Digital Asset Summit (DAS) London. Use code ARTICLE for £75 off your ticket. Buy it now.