Elliptic raises USD60m to accelerate safe adoption of cryptoassets by mainstream financial markets
Elliptic, the cryptoasset risk management firm, has raised USD60 million in Series C funding. The financing round was led by Evolution Equity Partners, alongside new investment from SoftBank Vision Fund 2.
Existing investors AlbionVC, Digital Currency Group, Wells Fargo Strategic Capital, SBI Group, Octopus Ventures, SignalFire and Paladin Capital Group also participated.
The latest fundraise will accelerate Elliptic's efforts in enabling financial markets participants to embrace the crypto opportunity with trust and confidence. The company serves traditional financial institutions, fintechs, crypto businesses and government agencies with the leading suite of compliance and investigative solutions built specifically for cryptoassets.
With the new investment, Elliptic plans to strengthen its global leadership position through continued research and development, investment in its global network and expansion of Elliptic’s team, particularly in the US. Richard Seewald, Founder and Managing Partner at Evolution Equity Partners will join the Board of Directors to provide strategic, proven leadership building global software companies.
Simone Maini, CEO of Elliptic, says: “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.”
Seewald adds: “Elliptic is at the forefront of safeguarding our digital world and has led the way in enabling the safe adoption of cryptoassets across financial services. The latest fundraise provides Elliptic more resources to expand their market-leading cryptoasset risk management to financial organisations, businesses and regulatory authorities around the world.”
“The unique nature of crypto as a maturing asset class means there is a growing need for enterprise-grade compliance and transaction monitoring tools,” says Neil Cunha-Gomes, investor for SoftBank Investment Advisers. “Elliptic was an early mover in this space and its customisable 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.”