Crypto tax service ZenLedger picks up $15m

Cryptocurrency data analyses and tax platform ZenLedger has pulled in $15m for its Series B funding round.

ParaFi Capital served as the lead investor, with contributions also coming from Bloccelerate VC (which led the Series A), King River Capital, G1 Ventures, Main Street Investment, Three Point Capital, Shorooq Partners, VaynerFund, Blizzard the Avalanche Fund, and AngelList Quant Fund.

This Series B will help ZenLedger expand its global services, further innovation with crypto finance products and bolster its retail and government market share.

It is already looking to release new products to support its customers, including Registered Investment Advisors (RIAs) and Certified Public Accountants (CPAs).

Founded in 2017, ZenLedger collects, analyses and accounts for transaction information across thousands of exchanges, NFTs, DeFi wallets and tokens in one dashboard. It has integration support on over 500 exchanges, 50 blockchains and 40 DeFi protocols.

By using the platform, accountants and individuals an simplify and automate the tax processes for cryptocurrency.

ZenLedger claims to have experienced a five-times year-over-year growth in sales. It also claims to support more exchanges, coins, wallets, blockchains, fiat currencies, and DeFi protocols than any other competitor.

ZenLedger CEO Pat Larsen said, “We had our best tax season ever so far. Record numbers of investors and capital are flowing into crypto, NFTs, defi- and we are happy to help all those people and their tax professionals with crypto accounting and taxes.

“We are thrilled about the fantastic investors in this round, and I’m excited to work with them and their amazing portfolio companies.”

The company previously raised $6m for its Series A in August 2021. The funding round followed a 500% revenue growth in a year.

Copyright © 2022 FinTech Global

Enjoyed the story? 

Subscribe to our weekly RegTech newsletter and get the latest industry news & research

Copyright © 2018 RegTech Analyst


The following investor(s) were tagged in this article.