Japanese Investment Firm SoftBank Joins Elliptic’s Latest Funding Round Amounting to $60 Million

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Japan-based tech investment titan SoftBank has reportedly joined London-based crypto risk management services provider Elliptic’s Series C funding round amounting to $60 million.

As per Elliptic, the funding round was spearheaded by Evolution Equity Partners and was participated by Wells Fargo Strategic Capital, Digital Currency Group, AlbionVC, SignalFire, and many more.

Elliptic’s last three funding rounds all raised in numbers after the other. In 2016, Elliptic managed to raise $5 million in its Series A funding, then $28 million on its Series B last 2019-2020.

In a recently published blog post, Elliptic described its latest funding round as the firm fully embracing the critical role of risk management within the crypto space – stating that it has now laid out plans to use the received funding to expedite its R&D operations.

It has also been said that the firm aims to expand its services to reach the US soil, with an active effort of having over 200 Eliptites worldwide.

On the other hand, SoftBank’s participation in the aforementioned $60 million funding round further reinforces the current trend of traditional financial institutions looking towards crypto-based firms to penetrate the booming market. Previous reports indicate that the Japanese investment giant also invested $200 million in Mercado Bitcoin.

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