London-based blockchain analytics firm Elliptic raised $120 million in a Series D funding round, pushing its valuation to $670 million as institutional players increase their reliance on crypto compliance tools.
"As digital assets become more embedded in the global financial system, institutions need trusted infrastructure to manage compliance and risk at scale," said Gary Offner, Head of Nasdaq Ventures. "Elliptic’s platform plays an important role in providing that infrastructure."
The round was led by One Peak and included Deutsche Bank and the British Business Bank. Elliptic, founded in 2013, now screens over one billion transactions weekly for more than 700 customers, with two-thirds of global crypto volume flowing through exchanges that use its services.
The investment comes as demand for risk management grows, with stablecoins processing $33 trillion in transactions in 2025 and crypto hacks totaling nearly $3 billion since the start of the same year. Elliptic plans to use the capital to enhance its AI-powered monitoring tools to help institutions navigate this evolving landscape.
"Financial systems are being rebuilt on-chain," said Simone Maini, CEO of Elliptic. "The institutions leading that transition need an on-chain analytics partner that matches their scale, their sophistication, and their ambition. This funding lets us move faster to meet it."
The new capital will specifically accelerate Elliptic's "agentic product roadmap," which involves building AI agents to automate repetitive compliance tasks. This allows human analysts to focus on more complex financial crime investigations, a critical need as attackers also adopt AI tools.
"We spoke to leading institutions from across all segments of the market, and they spoke with one voice: Elliptic is the leader in digital asset compliance," commented Humbert de Liedekerke Beaufort, Founding Partner at One Peak. He cited the company's deep proprietary dataset, built over more than a decade, as its key competitive advantage.
The participation of major financial institutions like Deutsche Bank and Nasdaq is a strong indicator of the industry's direction. "Our investment in Elliptic reflects our focus on strengthening these foundations,” said Sabih Behzad, Global Head of Digital Assets at Deutsche Bank, highlighting the need for institutional-grade risk frameworks.
This article is for informational purposes only and does not constitute investment advice.
