Elliptic closes Series B round with SBI Holdings in the lead

Posted 04 September, 2019

Elliptic company dealing with public blockchain transaction tracking has reportedly completed its Series B funding round. The company managed to get $23 million investments with the round led by SBI Holdings.

Elliptic intends to take roots in the Asia region. In particular, it has already opened an office in Singapore, while another one is to be opened in Japan soon. 

The Series B funding round was led by SBI Holdings followed by AlbionVC, SignalFire, Octopus Ventures and Santander Innoventures.

Notably, the representatives of SBI and AlbionVC will get a chair in the Board of Directors.

The company CEO James Smith stated that he sees the strong potential of the Asian region in terms of crypto regulation. He added that they plan to settle in Japan with the rest of Asia to be the next target. 

As for SBI, the company will apply Elliptic's solutions based on AI and machine learning to its trading and custody services.

It should be also mentioned that Elliptic reportedly develops monitoring solutions for Facebook's Libra project.

The total investments, including a seed round and Series A funding, reached $12 million over the past five years.

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