The funding will help ZenLedger launch new products and hire more talent. Here are the top-line bullets you need to know.
ZenLedger, a provider of crypto tax prep software, has raised $15M in a Series B. The round drew participation from ParaFi Capital, AngelList, King River Capital, and Blizzard Fund, among others.
How’s the company performing?
- Washington-based ZenLedger helps crypto investors analyze their transaction history in order to file their taxes.
- The company has grown 5x year-over-year.
- It currently supports over 500 exchanges, 40+ DeFi Protocols, and 50+ blockchains.
- ZenLedger currently caters to 50K users.
Source: ZenLedger
Why does the market matter?
- The global crypto asset management market is expected to reach a value of $1.2B by 2026, growing at a CAGR of 21.5%, according to Markets and Markets.
- As of June 2021, around 221M users had made crypto transactions across several applications, wallets, and exchanges. This has driven up the demand for asset tracking and monitoring tools to support tax compliance.
- Various retail and e-commerce businesses are starting to accept cryptocurrency as payment, which has led these businesses to turn to asset management services.
Want to see more research? Join a demo of the CB Insights platform.
If you’re already a customer, log in here.
