Cryptocurrency startup ZenLedger raises $15m Series B funding to expand crypto tax solutions

Cryptocurrency startup ZenLedger raises $15m Series B funding to expand crypto tax solutions

Published: 25-05-2022 15:49:00 | By: Pie Kamau | hits: 334 | Tags:

ZenLedger, a global player in cryptocurrency data analysis, accounting, and tax, announced the close of its $15 million Series B funding. The round is led by ParaFi Capital with participation from Bloccelerate VC (Series A lead), King River Capital, G1 Ventures, Main Street Investment, Three Point Capital, Shorooq Partners, VaynerFund, Blizzard the Avalanche Fund, and AngelList Quant Fund. The funding allows ZenLedger to expand services globally, innovate further on crypto finance products, and grow retail and government market share.

Pat Larsen, CEO, ZenLedger: "We had our best tax season ever so far. Record numbers of investors and capital are flowing into crypto, NFTs, defi- and we are happy to help all those people and their tax professionals with crypto accounting and taxes. We are thrilled about the fantastic investors in this round, and I'm excited to work with them and their amazing portfolio companies."

Finding new ways to provide value to the community, ZenLedger will add new products appealing to a broader professional audience, including Registered Investment Advisors (RIAs) and Certified Public Accountants (CPAs). Acting as the bridge between traditional finance and the crypto industry, ZenLedger helps financial service providers demystify crypto taxes, and adapt and expand their own businesses. Additionally, ZenLedger recently onboarded a diverse team of experts and leaders to support the start of these ongoing growth efforts.

Ryan Navi, Principal, ParaFi Capital: "As the digital asset space matures, we expect the demand for services that help provide regulatory and tax compliance to grow significantly over the coming years. We believe ZenLedger offers one the most comprehensive crypto tax solutions in the market today and will help meet that growing demand. We're proud to become a strategic partner that can help ZenLedger expand further to become one of the leading end-to-end crypto tax tools in the industry."

ZenLedger has grown 5x year-over-year in sales, and is widely regarded as the leading crypto tax solution. Supporting more exchanges, coins, wallets, blockchains, fiat currencies, and DeFi protocols than any other competitor, ZenLedger's powerful software and analysis is used by the IRS, Big 4 accounting firms ultra-high network tax practices, top 10 blockchain core developing teams, and token/crypto founders.