LOGO_CRYPTO_SIGHT

Crypto-specialised Software Company Secured $53M to Offer More Crypto and DeFi Solutions

By Robin Wong | April 5, 2021

Crypto accounting and data firm Lukka reportedly disclosed its successfully acquired $53 million via a funding round. 

Specifically, the newly secured fund – obtained amid the time where the deadline for U.S. taxpayers to complete their filing is closing in – will reportedly be dedicated to roll out extra features, catering to clients doing business in derivatives, DeFi products, and other products of the crypto sphere.

The series D funding round was reportedly led by Soros Fund Management — a fund established by billionaire investor George Soros – as well as S&P Global, and accounting advisor CPA.com. 

“Innovation in the crypto ecosystem has exposed traditional finance to a new way of exchanging assets around the world,” Head of Lukka, Robert Materazzi, reportedly remarked regarding the development. 

He further shared that the capital will assist Lukka to maintain its leading position of innovation, “so that we can continue to solve [institutions’] most complex data challenges.”

The firm has reportedly been successful in obtaining $75 million in 2020 from the three investors, together with financial services firm State Street and other institutional investors.

Catering to over 200 active crypto funds, Lukka has reportedly completed processing $4.4 trillion in unique transactions to date.

With crypto assets adoption rate is reportedly moving in an inclining pattern, numerous individuals have posed the question of crypto tax management. The recent Lukka funding round could be a signal showing investors putting in efforts to capitalize the need for specialized accounting services.

The company is reportedly already equipping RSM – the 5th-ranking US-based accounting entity – with crypto tax software. 

Tags: , ,

Comments