CoinTracker raises $100m to fulfil crypto mission

CoinTracker claims that its platform covers more than 3% of the entire global market or over $50 billion of assets on a daily basis

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CoinTracker raises $100m to fulfil crypto mission

CoinTracker has raised $100 million of series A funding in order to drive the successful adoption of crypto.

The company, which operates a cryptocurrency tax compliance and portfolio tracking platform, raised the funds from Accel, General Catalyst, Initialized Capital, 776 Ventures, and Y Combinator, as well as Coinbase Ventures, Kraken Ventures, and Intuit Ventures.

Individuals and angel investors including Garry Tan, Alexis Ohanian, Claire Hughes Johnson, Gokul Rajaram, Jeremy Liew, and Alex Bouaziz also joined the round.

CoinTracker claims that its platform covers more than 3% of the entire global market or over $50 billion of assets on a daily basis.

It provides users with a unified view of their portfolio across wallets and exchanges, while enabling them to monitor performance and tax requirements.

The company believes that such a platform will be crucial to the successful mass adoption of crypto, as both regulation catches up with the asset class and in order for it go mainstream. 

CoinTracker’s Jon Lerner and Chandan Lodha wrote in a joint blog post: “To ensure continued adoption of crypto it’s imperative to enable every user to comply with taxes.”

“Our vision is to build that platform that ‘just works’ and enables users to freely use every part of crypto without the burden of manually tracking their assets and complying with taxes. We believe this is critical for the successful adoption of crypto and is core to our mission.”