Elliptic Raises $120m Series D At $670m Valuation

Elliptic (@elliptic), the London-based blockchain analytics firm, has closed a $120 million Series D fundraise led by One Peak, with participation from Nasdaq Ventures, Deutsche Bank, and the British Business Bank, valuing the company at $670 million. The round also includes existing investors JPMorgan Chase, Evolution Equity Partners, and AlbionVC.

The deal marks one of the largest funding rounds for a blockchain compliance company since venture investment across the crypto industry slowed following the market downturn in 2022. The raise brings Elliptic's total funding to roughly $224 million since its founding.

Scale and Strategy

Founded in 2013, Elliptic has spent over a decade building a proprietary dataset spanning 65-plus blockchains, refined through continuous collection and labelling of assets and entities. The company screens over 1 billion transactions a week for 700-plus customers across 30 countries. Two thirds of global crypto trading volume, the company claims, runs through exchanges that already use Elliptic's platform.

The new funding will be used to expand Elliptic's AI-native compliance tools and develop an "agentic" product roadmap, with autonomous AI agents designed to address the highly manual, repetitive nature of transaction screening and investigation, enabling compliance officers to act more as strategic decision-makers.

Stablecoins and tokenized assets are becoming the infrastructure through which value moves globally. In 2025, stablecoins processed $33 trillion in transactions, and for exchanges and crypto-native businesses processing the majority of that volume, real-time compliance at scale is an operational necessity today.

A Crowded but Growing Market

Elliptic operates in an increasingly competitive space. Chainalysis holds the largest global law enforcement market share, with extensive training programs, while TRM Labs, founded in 2018, recently achieved unicorn status with a $1 billion valuation and focuses on AI-driven threat intelligence and real-time cross-chain screening. Elliptic maintains significant European and UK presence where the company is headquartered.

The funding round comes as large financial institutions continue increasing investments in digital asset infrastructure, particularly in areas tied to compliance, transaction monitoring, and risk management rather than speculative crypto trading activity.

Sources:
Elliptic Series D Press Release via Business Wire
Finextra: Deutsche Bank joins $120m funding round for Elliptic
Elliptic Official Announcement