Elliptic Raises $60 Million To Accelerate Safe Adoption of Cryptoassets By Mainstream Financial Markets
By Kathi on Oct 12, 2021 | 04:32 AM IST
Elliptic, the global leader in cryptoasset risk management,
announced today it has raised $60 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.
“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.”
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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 U.S. 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, said: “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.”
Founded in 2013, Elliptic pioneered the use of blockchain
analytics for financial crime compliance and has built the most accurate and
trusted crypto identity dataset in the market. Two thirds of crypto volume
worldwide is transacted on exchanges that use Elliptic; these businesses rely
on Elliptic’s solutions to manage risk and generate insights by leveraging over
20 billion data points covering 98% of all cryptoassets by market cap.
Richard Seewald, of Evolution Equity Partners, said:
“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 organizations,
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,” said Neil Cunha-Gomes, investor for SoftBank Investment
Advisers. “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.”
About Elliptic
Elliptic is the global leader in cryptoasset risk
management for crypto businesses and financial institutions worldwide.
Recognized as a WEF Technology Pioneer and backed by investors including
Evolution Equity Partners, SoftBank and Wells Fargo Strategic Capital, Elliptic
has assessed risk on transactions worth several trillion dollars, uncovering
money laundering, terrorist fundraising, fraud, and other financial crimes.
Elliptic is headquartered in London with offices in New York, Singapore, and
Tokyo. To learn more, visit www.elliptic.co and follow us on LinkedIn and
Twitter.
About Evolution Equity Partners
Evolution Equity Partners, based in New York City, Palo
Alto, London and Zurich invests in fast growing technology companies helping
exceptional entrepreneurs develop market leading companies safeguarding our
digital world. The firm has a focus on Cybersecurity and Enterprise Software
markets and its partners have been involved as founders, investors and as
senior operating executives in leading software companies around the world.
Learn more at www.evolutionequity.com and follow us at LinkedIn and Twitter.