Elliptic, a London-based crypto and blockchain analytics firm specializing in crypto risk management, has announced that it has closed a Series C funding round led by Evolution Equity Partners and Japanese investment firm Softbank.
This latest funding round for Elliptic also saw the participation of Softbank Vision Fund 2, as well as prior investors AlbionVC, Digital Currency Group, Wells Fargo Strategic Capital, SBI Group, Octopus Ventures, SignalFire, and Paladin Capital Group returning in this round to pitch in.
According to the firm’s official press release, the new funds are aimed at helping “accelerate Elliptic’s efforts in enabling financial markets participants to embrace the crypto opportunity with trust and confidence.”
To date, Elliptic has served traditional financial institutions, financial technology companies and startups, as well as crypto businesses and government agencies, providing compliance analysis and investigative blockchain solutions aimed at gaining insight on cryptoassets.
“The unique nature of crypto as a maturing asset class means there is a growing need for enterprise-grade compliance and transaction monitoring tools. Elliptic was an early mover in this space and its customizable platform is trusted by financial institutions of all sizes. We are pleased to support Simone and the Elliptic team in their mission to enable safe crypto adoption globally.” shared Neil Cunha-Gomes, investor for SoftBank Investment Advisers.
Elliptic was formed in 2013 and is headquartered in London. The blockchain analytics firm captures data from the blockchain sector, aggregating these data points to create analytic insights to create anti-money laundering and compliance services for its aforementioned clientele. Elliptic helps resolves cases that involve financial crime tied to crypto, and also helps provide resilience to risk for its institutional and enterprise clients.
“At Elliptic, we help financial institutions, from crypto exchanges to the world’s leading banks, embrace cryptoassets more safely. This fundraising round is an endorsement of the opportunity for cryptoassets in the financial industry – and our absolutely critical role in the ecosystem,” shared Elliptic CEO Simone Maini.
Elliptic says that two-thirds of all crypto trade volume occurs on exchanges that are integrated with their risk management and analytics solutions. Elliptic also claims that it has gathered over 20 billion data points across 98% of the crypto sector’s assets by market capitalization.
In June last year, Elliptic was recognized by the World Economic Forum as one of 100 early to growth-stage projects leading technological innovation in the Blockchain and Distributed Ledger Technologies category, alongside other leading crypto industry projects such as Chainlink, MakerDAO, Lighting Labs, Ripio, and Veridium Labs.
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