Crypto accounting automation startup Lukka raises $110M, hits $1.3B valuation

A new funding round led by hedge fund giant Marshall Wace netted $110 million for crypto accounting and data company Lukka.
A new funding round led by hedge fund giant Marshall Wace netted $110 million for crypto accounting and data company Lukka.

A new funding round led by hedge fund giant Marshall Wace netted $110 million for crypto accounting and data company Lukka.

Announcing the completion of its $110 million Series E funding round on Friday, Lukka said it had received participation from Soros Fund Management — a fund established by billionaire investor and crypto enthusiast George Soros, accounting advisor CPA.com., Liberty City Ventures, and S&P Global, along with Marshall Wace. With its current user base dealing in derivatives, decentralized finance (DeFi), and other products relating to the crypto industry, Lukka intends to use the cash for “aggressive growth and global expansion strategy,” the company stated.

Chief Executive Officer (CEO) Robert Materazzi said that the crypto ecosystem had reached a “new phase of maturity” and that the company’s goal has been to address the challenges posed by new technologies in the sector. Among the companies that Lukka serviced in 2021 are the major accounting firm RSM, S&P Dow Jones Indices, and the financial services firm State Street.

Lukka hits $1.3 billion valuation

Founded in March 2021, the cryptocurrency-focused software company raised $53 million in funding and recently earned unicorn status with a valuation of more than $1 billion. Lukka, which serves a large number of active crypto funds, has reportedly completed $2.1 trillion in unique transactions to date.

The New York-based startup, which was established in 2014, specializes in providing blockchain and tokenized asset data to enterprises operating in the crypto market. Tax solutions and data valuations, as well as a digital asset content library, are some of the services provided by Lukka.

Lukka has been making strong partnerships with many major crypto firms. Previously, as TheCoinRise reported, the firm joined hands with accounting advisor CPA.com to jointly launch a crypto asset tax preparation tool which would be now really helpful amid huge regulatory involvement.