Elliptic Raises $120M Series D for Crypto Compliance
Elliptic, a London-based leader in blockchain analytics and crypto compliance solutions, has raised $120 million in Series D funding led by One Peak. The company provides real-time risk scoring, wallet and transaction screening, cross-chain investigations, and threat intelligence to combat financial crime in digital assets. The capital will accelerate its agentic AI product roadmap and expand global presence.
TradFi Giants Fuel Compliance Boom
The round values Elliptic at around $670 million, drawing participation from Nasdaq Ventures, Deutsche Bank, and British Business Bank. This comes as competitors like Chainalysis secure $536M total funding focused on government investigations, while TRM Labs raised $220M emphasizing AI for DeFi risks. Elliptic targets financial institutions with seamless regulatory integrations over broad law enforcement tools.
Hacks and Illicit Flows Surge
Crypto hacks have stolen nearly $3 billion since early 2025, per industry reports, amid rising illicit volumes projected at $158 billion in 2025. Regulations like EU MiCA and California's DFAL deadline in July 2026 demand robust AML screening for VASPs. Traditional tools struggle with cross-chain complexity and real-time scale.
Lens and Copilot Redefine Screening
Elliptic's Lens offers unified real-time wallet and transaction screening, while Investigator enables cross-chain probes across 64+ blockchains. Its AI Copilot automates compliance tasks, integrating Data Fabric for holistic blockchain data. Unlike Chainalysis's government-centric Reactor, Elliptic prioritizes bank-grade risk scoring and VASP due diligence via Discovery.
As CEO Simone Maini noted:
"One of the things that we will be accelerating with the funding is our agentic product roadmap… building and launching agents that sit on top of Elliptic's dataset to be able to automate a lot of what is otherwise highly manual, repetitive tasks performed by compliance analysts."
Investor Backing Signals TradFi Shift
One Peak leads with strategic bets from Nasdaq Ventures and Deutsche Bank, signaling conviction in crypto-TradFi convergence. JPMorgan remains an existing backer. This mission capital validates Elliptic's 700+ customers across 29 countries screening two-thirds of global crypto volume.
Compliance Market Scales Rapidly
The crypto AML compliance market stands at $1.4 billion in 2026, growing at 16.5% CAGR to $4.8 billion by 2034. Competitors CipherTrace garnered $26M pre-Mastercard acquisition for payments focus, and Merkle Science $24M for predictive Asia tools. AI integration and regs like Travel Rule drive capital into analytics leaders.
AI Roadmap Powers Global Expansion
Elliptic plans to deploy agentic AI agents atop its dataset for automated workflows. Recent hires include CFO Tom Stenhouse from BCG, with global openings in engineering, sales across London, Miami, Singapore. Partnerships like Solana Developer Platform and Circle's Arc embed its screening natively.