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Zero Hash raises $105 million in series D round


www.theblock.co 12 January 2022 13:58, UTC
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Crypto services startup Zero Hash announced on Wednesday it has raised $105 million in a series D fundraising round. 

The news comes just three months after the company's series C, which raised $35 million from Point72, NYCA Partners and DriveWealth, as well as a group of angel investors that included Mercury founder Immad Akhund and Deserve founder Kalpesh Kapadia, among others. It has also been backed by Bain Capital in previous rounds. Steve Cohen's Point72 participated in the latest round. 

Milan Galik, CEO of Interactive Brokers, was listed on an SEC filing associated with the raise, but the firm declined to comment on its involvement. 

Zero Hash offers tech to third-party retail brokers and fintech firms. The company now powers some of the largest neobanks (including MoneyLion and Wirex), fastest-growing payment processors (including Moonpay, Ramp, and Transak), and prominent retail brokers (including Tastyworks, TradeZero, and TradeStation).

In a press release, Zero Hash said it would use the proceeds of the round to continue expanding its compliance, marketing, product, and engineering teams. It also said it would enhance support for Layer 2 protocols as well as doubling the number of assets it supports to more than eighty by the end of the year.

The money will also be used for "opportunistically looking at strategic acquisitions," it said. 

The firm declined to share its valuation.


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