Source: Fortune
Summary
Cryptio, a crypto accounting startup, has raised $45 million in a Series B funding round led by BlackFin Capital Partners and Sentinel Global. The company provides software to help customers track digital assets and manage crypto loans. Cryptio has 110 employees and over 450 clients, including digital asset titans like Circle and Société Générale. The startup has benefited from growing institutional interest in blockchain technology.
Our Reading
The numbers tell one story.
Cryptio’s funding round is a sign of growing institutional interest in blockchain technology. The startup has been able to attract large clients like Goldman Sachs and Morgan Stanley, which are increasingly experimenting with digital assets. Cryptio’s software helps these clients track and manage their digital assets, a need that has become more pressing as institutional adoption of crypto grows. The startup’s backers believe it has an edge due to its ability to explain and instill trust with high-end institutions. As corporate adoption of crypto continues to grow, Cryptio is well-positioned to benefit.
Big banks are getting comfortable with crypto, and that’s good for business.
Author: Evan Null
