05.26.2021

Solidus Labs Raises $20m To Enable Safe Crypto Markets

We are proud to announce a $20 million round of financing to help fulfill our vision – Enabling safe crypto markets and transforming financial risk monitoring, starting with digital assets.

The funds will help us launch a major expansion of our R&D teams in Tel Aviv and London to support a 400% increase in demand for our solutions since the beginning of 2020, as well as extend their reach by expanding out sales, BizDev and Reg Affairs teams, and opening offices in Asia and high demand markets.

Beyond the the funding itself, we’re absolutely delighted to have such an impressive group of FinTech entrepreneurs, senior regulators and experts joining the team, in addition to Evolution Equity partners, who are leading the round, the round includes Hanaco Ventures, which led our seed funding round in early 2019, 645 ventures, leading crypto exchange FTX and and Avon Ventures, a venture capital fund affiliated with FMR LLC, the parent company of Fidelity Investments.

We are also honored to have a remarkable group of angel investors join the round, representing the highest echelons of regulation, entrepreneurship, compliance, capital markets and cybersecurity experience. These participants  include former CFTC Chair Christopher Giancarlo, former SEC Commissioner Troy Paredes, former CFTC Chief Innovation Officer Daniel Gorfine, StarCompliance Founder Marc Epstein, International Securities Exchange Founder David Krell, AngelList Founder Naval Ravikant, SecurityScorecard Founders Sam Kassoumeh and Aleksandr Yampolskiy, serial entrepreneur Jeff Fagnan and Takoma Group Founder Alex Acree.

We are honored that such a highly credentialed group believes in the importance of our work. For Solidus Labs, this isn’t just important validation, it also provides the additional support, expertise and network required to achieve our vision.

We spent the last three years working with regulators and crypto risk and compliance teams, to understand the challenges they face, and the opportunities crypto provides to create better risk monitoring. The future of financial risk monitoring begins with crypto, and the key to achieving it is in unifying multiple sources of risk data, and processing them faster and more efficiently than ever before, to detect anomalies and build deep risk views of accounts and platforms.

Enabling the merits of crypto and digital assets – decentralization, accessibility, transparency and efficiency – while mitigating the new risks they introduce, requires real-time, surgical and effective risk monitoring. It’s not about barring the entry of investors, but rather about the ability to detect and prevent actual malicious activity, and being prepared not just for known forms of fraud and abuse, but also for new forms of crypto-specific threats. It requires crypto-native technology, machine-learning and most importantly, a forward-looking focus on the industry and its needs. That’s what Solidus Labs brings to the table, and we look forward to continuing continue working with our partners, clients and the entire crypto and finance community to ramp it up, enable safe crypto markets, and bring about the future of financial risk monitoring.

Source: Solidus

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