TBW - Series A: Cryptio raises a further $15 million

As the crypto sector continues to grow, so do the needs of businesses.

Beyond exchange and custody services, auditing and accounting are becoming essential to ensure the traceability of transactions.

"Business accelerated in 2024," stresses Antoine Scalia*, founder and CEO of Cryptio, considered one of the leaders in blockchain accounting and auditing.

As a sign of the trend, the start-up, which was born in Paris in 2018 and now based between Paris and London, has just raised $15 million as part of an extension to its Series A - $25 million in total.

This round was led by historical investor Alven, alongside new entrants such as funds 1kx and Cathay Ledger. Other historic investors such as Tim Draper also participated.

The valuation of Cryptio, which claims 400 customers (Gemini, Hex Trust, Uniswap and others), has not been disclosed.

"This transaction will enable us to accelerate our development with crypto companies and more traditional companies", says Antoine Scalia.

In November, Cryptio unveiled Bedrock, its new analytics platform for managing crypto transactions and their compliance with MiCA (Europe) and VARA (Middle East) regulations.

Cryptio's model is subscription-based, with pricing based on volumes and the number of addresses and wallets to be tracked.

*Antoine Scalia is an individual investor in The Big Whale.