Cryptocurrency researcher Elliptic has raised $60 million led by Evolution Equity and investors include SoftBank and Wells Fargo’s venture capital arm.
Mastercard last month bought U.S. researcher CipherTrace for an undisclosed sum, to help businesses get a handle on risks and compliance in the fast-growing crypto sector.
In June, U.S. blockchain data platform Chainalysis raised $100 million at a valuation of $4.2 billion, aiming to widen its coverage of crypto assets.
London-based Elliptic said the Series C round was led by Evolution Equity, with SoftBank Vision Fund 2 and Wells Fargo Strategic Capital investing for the first time. Other investors include Japan’s SBI Group, Elliptic said in a statement, without disclosing its valuation.
The investment by SoftBank was its latest in the crypto space. Last month it led a $680 million funding round by blockchain-based fantasy soccer game Sorare, and also led a $155 million round for blockchain firm Blockdaemon.
In July, the Japanese conglomerate also invested $200 million in Mercado Bitcoin, one of the largest cryptocurrency exchanges in Latin America.
Elliptic, established in 2013, tracks the movement of cryptocurrencies on blockchain – the technology underpinning them – to help financial crime compliance.
Elliptic said it plans to invest in its global network and team, as well as continuing research and development.
Elliptic’s clients include traditional financial firms, fintech and crypto companies, as well as government agencies. Two-thirds of crypto volume worldwide pass through exchanges that use Elliptic’s software.