Elliptic raised $120M at a $670M valuation as Deutsche Bank, Nasdaq and JPMorgan bankroll blockchain surveillance tools amid surging crypto crime and regulatory heat.
Summary
- Blockchain analytics firm Elliptic has raised $120 million at a $670 million valuation.
- The round was led by growth equity investor One Peak Partners with backing from major banks and market operators.
- Elliptic says it now monitors over 1 billion crypto transactions weekly for more than 700 institutional clients.
Blockchain analytics and compliance firm Elliptic has secured a $120 million funding round at a $670 million valuation, marking one of the largest raises to date in the crypto transaction monitoring sector, according to industry outlet ChainCatcher.
Elliptic clinches major growth round amid surge in crypto compliance demand
The new round was led by London-based growth equity investor One Peak Partners, with participation from Deutsche Bank, Nasdaq’s venture capital arm, and the U.K. state-backed British Business Bank, while existing shareholder JPMorgan Chase also increased its stake, ChainCatcher reported. Elliptic, founded in 2013 and headquartered between London and New York, specializes in blockchain forensics, anti-money laundering (AML) and sanctions screening tools used by banks, asset managers, fintechs and law enforcement bodies.
Elliptic now screens more than 1 billion crypto transactions weekly on behalf of over 700 clients, supporting compliance operations for “large banks, asset management firms, and fintech companies” that are expanding into digital assets, ChainCatcher noted. In its earlier $60 million Series C round, Elliptic described itself as “the global leader in cryptoasset risk management,” saying the financing would “accelerate [its] efforts in enabling financial markets participants to embrace the crypto opportunity with trust and confidence,” according to a company statement cited by Elliptic.
That 2021 Series C was led by Evolution Equity Partners with new backing from SoftBank’s Vision Fund 2 and JPMorgan, illustrating how traditional finance has been steadily underwriting the growth of blockchain analytics and surveillance tooling. Reuters reported at the time that Elliptic planned to use the capital to “enhance its global network and workforce, alongside ongoing research and development efforts” as it tracked crypto movements “to aid in compliance with financial crime regulations.”
Regulatory pressure and enforcement risks have only escalated since, with blockchain analytics firms like Elliptic and rivals frequently cited in cases involving sanctions evasion, darknet markets and nation-state hacking campaigns. ChainCatcher, referencing research by security firm CertiK, noted that North Korean hackers were responsible for roughly 60% of digital asset thefts by 2025, with attack patterns shifting toward “offline infiltration,” a trend that has further fueled institutional demand for blockchain surveillance and risk scoring tools.
As major banks including Deutsche Bank and JPMorgan deepen their exposure to tokenization, stablecoins and spot crypto products, the latest Elliptic raise underscores how compliance infrastructure is becoming a prerequisite for any serious institutional crypto strategy.
