Elliptic, a crypto compliance firm used to monitor blockchain, raised $120 million in a round backed by Deutsche Bank and Nasdaq's venture arm as banks and exchanges move deeper into crypto.
According to a May 12 Bloomberg report, the round is led by a New York-based investment firm named One Peak Partners, which valued the London-based firm at $670 million. Investments have been made by the British Business Bank, while existing investors include JPMorgan Chase, and AlbionVC.
- Founded in 2013, Elliptic builds software that helps crypto firms, banks and law enforcement monitor blockchain transactions. Speaking with Bloomberg, Elliptic CEO Simone Maini said Elliptic will use the money to expand adoption of its services and grow globally.
According to Elliptic's website, the company now screens more than 1 billion transactions a week for over 700 customers, averaging about 1.4 million screened transactions per customer, though actual usage likely varies by client.