Crypto risk management firm Elliptic has raised $60 million in Series C funding to help increase its business with financial markets.

The financing round was led by Evolution Equity Partners alongside the SoftBank Vision Fund 2, with existing investors also contributing.

The round will help accelerate Elliptic's efforts in enabling financial markets to “embrace the crypto opportunity with trust and confidence”, said the firm.

The company serves traditional financial institutions, FinTechs, crypto firms and government agencies with a suite of compliance and investigative solutions built specifically for crypto assets. The software is used to uncover assets involved in money laundering, terrorism, fraud and other financial crimes.

Funds will be used for continued research and development, investment in the firm's global network and expansion of the Elliptic team.

Richard Seewald, founder and managing partner at Evolution Equity Partners, will join the Elliptic board of directors as part of the deal.

Simone Maini, chief executive of Elliptic, said: “This fundraising round is an endorsement of the opportunity for crypto assets in the financial industry and our critical role in the ecosystem.”

Seewald added: “The fundraise provides Elliptic more resources to expand their risk management platform to financial organisations, businesses and regulatory authorities around the world.”

Elliptic is headquartered in London with offices in New York, Singapore and Tokyo.

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