Just a few weeks before the filing deadline for U.S. taxpayers, cryptocurrency accounting and data company Lukka said it had raised an additional $53 million in a new funding round.
In an announcement today, Lukka said it had completed a $53 million Series D funding round led by Soros Fund Management — a fund created by billionaire investor George Soros — S&P Global, and accounting advisor CPA.com. Lukka said it planned to add additional features for customers dealing in derivatives, DeFi products, and other products of the crypto space.
“Innovation in the crypto ecosystem has exposed traditional finance to a new way of exchanging assets around the world,” said Lukka co-CEO Robert Materazzi. “This new capital will help Lukka stay at the forefront of innovation so that we can continue to solve [institutions'] most complex data challenges.”
The company has raised $75 million in the last year from the three investors as well as financial services company State Street and other institutional investors. Serving more than 200 active crypto funds, Lukka has reportedly processed $4.4 trillion in unique transactions to date.
As the adoption of digital assets rises, many users have expressed their concerns about crypto tax management. The latest funding round for Lukka could be an indication of investors trying to capitalize the need for specialized accounting services. The firm is already providing crypto tax software to the fifth-largest accounting firm in the United States, RSM.