Blockchain analytics and compliance firm Elliptic has raised $120 million at a $670 million valuation, in one of the largest funding rounds seen in crypto transaction monitoring. The round was led by One Peak Partners, with participation from Deutsche Bank, Nasdaq’s venture arm, the British Business Bank, and existing investor JPMorgan Chase.
Fresh capital flows into blockchain monitoring and AML infrastructure
Founded in 2013 and based between London and New York, Elliptic focuses on blockchain forensics, anti-money laundering screening, and sanctions compliance tools. Its products are used by banks, asset managers, fintech firms, and law enforcement agencies. The company said it now monitors more than 1 billion crypto transactions every week for over 700 institutional clients.
That scale points to a clear shift in the market. As more financial institutions expand into digital assets, the need to trace on-chain activity, flag suspicious flows, and meet compliance requirements is moving closer to the center of their operating stack.
Wall Street and market operators deepen their exposure
Elliptic had previously raised $60 million in a Series C round in 2021, led by Evolution Equity Partners, with backing from SoftBank Vision Fund 2 and JPMorgan. At the time, the company said the capital would support growth in its global network, workforce, and research and development tied to financial crime compliance.
The latest round adds another signal from traditional finance. Deutsche Bank, JPMorgan, and Nasdaq-linked capital are backing a company built around crypto risk controls, a sign that surveillance and compliance systems are being treated as core infrastructure as institutions explore tokenization, stablecoins, and spot crypto products.
Crime trends and regulatory pressure are driving demand
The report said blockchain analytics firms such as Elliptic are being cited regularly in cases tied to sanctions evasion, darknet markets, and nation-state hacking campaigns. ChainCatcher, citing research from security firm CertiK, said North Korean hackers were responsible for about 60% of digital asset thefts by 2025, while attack patterns were shifting toward “offline infiltration.”
Those changes have added urgency for institutions building crypto operations. For banks, asset managers, and fintech companies entering the sector, transaction screening, sanctions checks, and on-chain risk scoring are increasingly being treated as requirements rather than optional add-ons.