Elliptic, a blockchain forensic firm, has announced the close of a $60 million Series C funding round led by Evolution Equity Partners and Softbank's Vision Fund 2. The firm said in an announcement other investors such as AlbionVC, Digital Currency Group, Wells Fargo Strategic Capital, SBI Group, Octopus Ventures, SignalFire and Paladin Capital Group also participated in the funding.
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As part of the announcement, Richard Seewald, Founder and Managing Partner at Evolution Equity Partners, will also join Elliptic's Board of Directors. Seewald will provide strategic leadership on this role, the firm said.
"This fundraising round is an endorsement of the opportunity for cryptoassets in the financial industry - and our absolutely critical role in the ecosystem," said Elliptic CEO, Simone Maini.
The firm plans to use the proceeds for research and development purposes, with the team's expansion. The move comes after Banco Santander successfully completed a pilot with Elliptic. The company's blockchain tools allowed the bank to understand the risks emerging from the cryptocurrency market by flagging and analyzing transactions between the bank’s customers and crypto exchanges.
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