Elliptic, a London, UK-based provider of crypto-asset risk management solutions for crypto businesses and financial institutions, raised $23m in Series B funding.
The round was led by SBI Group, along with new investment from AlbionVC, and participation from existing investors including SignalFire, Octopus Ventures, and Santander Innoventures. In conjunction with the funding, Tomoyuki Nii from SBI Group will be joining the Board of Directors, along with Ed Lascelles of AlbionVC.
The company intends to use the funds to accelerate:
– the expansion into Asia, with new offices opening in Japan and Singapore, and
– product development to support asset-backed crypto-assets such as Facebook’s Libra, Line Corporation’s LINK and central bank digital currencies.
Founded in 2013 and led by Dr. James Smith, CEO, Elliptic provides crypto-asset risk management solutions to over 100 crypto businesses and financial institutions worldwide to manage their financial crime risk when dealing with crypto-assets. These companies use Elliptic to screen billions of dollars in transactions every day and to analyze them for links to illicit activity including money laundering, terrorist financing, sanctions evasion, and other financial crimes.
The company also has offices in New York, Singapore, and Tokyo.