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Blockchain analytics startup Elliptic said JPMorgan joined the list of investors who participated in a $60 million Series C fundraiser in October 2021.
The round was led by Evolution Equity Partners, which included SoftBank Vision Fund 2, AlbionVC, Digital Currency Group, Wells Fargo Strategic Capital, SBI Group, Octopus Ventures, SignalFire and Paladin Capital Group.
Elliptic works with businesses and government agencies to analyze blockchains for dishonest activity. He is working with firms like Coinbase on their internal compliance with anti-money laundering requirements. Also, the company’s services are used by Santander, Revolut, Genesis and Stellar.
“As more reputable financial institutions move into the sector, these companies need to understand when they can allow transactions to be executed and when they have to intervene,” Elliptic CEO Simone Maini said in a press release. “Ending financial crime is not only a regulatory requirement, but also an ethical requirement, and a safe ecosystem is a healthy ecosystem.”
Last year, Wells Fargo’s venture capital arm also backed the company in expanding its Series B, according to CNBC.
During the Series C round, Elliptic’s total funding to date has reached $100 million. The firm previously raised $40 million in three funding rounds. The company declined to share its estimate at the time of the announcement of the Series C fundraiser.
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