Solidus Labs, a risk monitoring and market surveillance platform, has scored a strategic investment round of $15m, which comes hot off the heels of its $20m Series A in May.
The strategic round was led by Liberty City Ventures, with participation also coming from Exor Seeds and GSR.
The fresh funds will enable the company to meet the rising demand for advanced crypto-native risk monitoring solutions.
During 2021, Solidus has doubled its team and is planning to launch products to serve new use cases, such as DeFi platforms and law enforcement.
It has been a strong year for the FinTech company. It has reported a consistent 400% inbound demand increase throughout 2020 and 2021. The technology is used by crypto platforms around the world, as well as banks and traditional financial institutions, to meet regulatory requirements around digital assets.
Solidus Labs was founded in 2018 by Asaf Meir, who brought together a team of former Goldman Sachs engineers and cybersecurity veterans to help bring regulatory, risk and compliance to the crypto and digital assets space.
Based in New York, the platform helps compliance teams within financial institutions to detect, investigate, manage, analyse, collaborate, backtest, report with digital assets. Its solutions include transaction monitoring, market surveillance, risk management and onboarding.
Solidus Labs founder and chief executive Asaf Meir said, “Tightening regulation, intensifying enforcement, institutional adoption, and a retail demand for more protections all mean that the key to crypto growth is better risk monitoring and compliance, and we’ve been feeling that through our pipeline.
“Simply put, this strategic round will allow us to serve more clients sooner and address many new use-cases in the DeFi and NFT risk frontiers, which require Solidus’ unique combination of crypto know-how and expertise in traditional trading dynamics and manipulation typologies.”
The FinTech company previously raised $20m in Series A funding back in May. The investment was led by Evolution Equity Partners, with capital coming from a host of other investment firms.
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