VCs in $23m series-B for Elliptic

New investor AlbionVC and existing investors SignalFire, Octopus Ventures and Santander InnoVentures also participated.

General manager Tomoyuki Nii of SBI will join the board of directors, along with partner Ed Lascelles of AlbionVC.

The fresh capital will go towards the company's expansion in Asia, with new offices opening in Japan and Singapore. The funding will also be used to accelerate product development to include new crypto-assets such as Facebook's Libra.

Previous funding
In 2014, Seed Capital invested an undisclosed amount in the company.

Octopus Investments led a $2m funding round for Elliptic later in 2014. The seed funding round saw several angel investors back the company alongside Octopus.

Paladin led a $5m series-A round alongside Santander InnoVentures, KRW Schindler, The Digital Currency Group and existing investor Octopus in 2016.

SignalFire led a $5m funding round in 2017, with participation from NCSC Cyber Accelerator.

Company
Founded in 2013, London-based Elliptic provides insured crypto-asset storage services and risk management products for businesses and financial institutions. The company employs around 70 people in offices in London, New York City and Washington DC, according to LinkedIn.

People
Elliptic – James Smith (co-founder, CEO).

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• Topics
• Expansion
• UK / Ireland
• Technology
• Venture
• United Kingdom
• Albion Ventures
• Octopus Ventures