[ad_1]
SEATTLE, Aug. 3, 2021 /PRNewswire-PRWeb/ — ZenLedger, the main cryptocurrency tax software program and blockchain analytics startup, right now introduced a $6 million Sequence A funding spherical led by Bloccelerate VC. Buyers embrace Mark Cuban’s Radical Ventures, G1 VC, Borderless Capital, 4RC, Centrality, BIGG Digital Belongings, CoinGecko, Accelerator Ventures, and angel traders Jon Staenberg and Darren Lau. The increase contains recommitment from earlier traders Vestigo Ventures, Fortress Island Ventures, Migration Capital, Blackwater Capital, and Karl Muth.
The cryptocurrency {industry} has seen speedy development and adoption during the last 5 years with a peak market cap of $2.5T and a whole lot of tens of millions of customers and traders worldwide. State, Federal, and Worldwide regulatory our bodies just like the J5 and IRS have begun to put extra stringent reporting measures for cryptocurrency investments and transactions. ZenLedger’s platform helps traders and accountants adhere to IRS and SEC laws by offering a digital workflow to simplify, optimize, and automate the tax and accounting course of.
Based in 2017 by CEO Pat Larsen and CTO Bryan Starbuck, ZenLedger has raised a complete of $11.5 million in funding to this point and continues to dominate the crypto tax house. With this newest spherical of funding, the corporate plans to launch its cryptocurrency portfolio administration answer that allows traders and merchants to simply view their portfolio efficiency and monitor their tax financial savings multi function repeatedly up to date dashboard. The corporate additionally plans to develop its workforce by way of new hires in advertising, enterprise gross sales, customer support, and software program engineering, to additional advance the product and buyer expertise.
“Cryptocurrency goes to proceed to rework finance and attain into our every day lives, however it’s nonetheless thought of a thriller to many,” mentioned Pat Larsen, CEO. “It is an honor to assist individuals by relieving their stress and fear about crypto taxes. We’re thrilled to work with such an unimaginable community of traders, and we’re excited to proceed making cryptocurrency extra accessible to all.”
“I see blockchain, crypto, DeFi, and NFTs all creating large worth,” mentioned investor Mark Cuban. “The core accounting and reporting infrastructure that ZenLedger gives will likely be essential to creating everybody’s lives simpler as they earn, transact, and put money into crypto.”
“The proliferation of blockchain purposes and digital property is exponentially growing compliance and reporting complexities for each retail traders and authorities businesses alike,” mentioned Kate Mitselmakher, Normal Accomplice at Bloccelerate VC. “ZenLedger is on the forefront of supporting this development with industry-leading instruments that may solely develop quickly in demand. We’re extraordinarily excited to companion with the exceptionally proficient, pushed, and inventive workforce from ZenLedger.”
ZenLedger’s platform gives each tax professionals and shoppers with tax filings and monetary evaluation by way of its user-friendly interface and glorious customer support. The corporate has grown its buyer depend and income 500% YoY, and has exceeded $5 billion in cryptocurrency transactions processed.
Based in 2017, and constructed by {industry} veterans in know-how, finance, and accounting, ZenLedger aggregates person transaction data throughout hundreds of exchanges, wallets, and tokens into one easy dashboard, making it simple to calculate tax legal responsibility and make monetary choices. ZenLedger helps cryptocurrency traders and tax professionals keep compliant with integration help for over 400+ exchanges, 40+ blockchains, 20+ DeFi protocols, and all wallets.
[ad_2]
Source link
