Blockchain analytics firm Elliptic raises $120 million in funding, valuing the company at $670 million.

CoinFeed reported on May 12th that, according to Bloomberg, blockchain analytics company Elliptic has completed a new funding round of $120 million, valuing the company at approximately $670 million. The round was led by One Peak Partners, with participation from Deutsche Bank, Nasdaq's venture capital arm, and British Business Bank. Existing shareholders, including JPMorgan Chase, continued to invest. Founded in 2013, Elliptic provides crypto transaction monitoring and anti-money laundering, sanctions compliance tools to financial institutions and law enforcement agencies. Currently, the company screens over 1 billion transactions weekly for more than 700 clients to support the compliant operations required for large banks, asset management firms, and fintech companies conducting digital asset business.