ZenLedger Raises $15 Million in Series B Funding To Expand Crypto Tax Solutions

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May 25, 2022, 09:00 ET

Led by ParaFi Capital, funds will drive exponential business growth

SEATTLE, May 25, 2022 /PRNewswire/ -- ZenLedger, a global leader in cryptocurrency data analysis, accounting, and tax, announced the close of its $15M Series B funding. The round is led by ParaFi Capital with participation from Bloccelerate VC (Series A lead), King River Capital, G1 Ventures, Main Street Investment, Three Point Capital, Shorooq Partners, VaynerFund, Blizzard the Avalanche Fund, and AngelList Quant Fund. The funding allows ZenLedger to expand services globally, innovate further on crypto finance products, and grow retail and government market share.

"We had our best tax season ever so far. Record numbers of investors and capital are flowing into crypto, NFTs, defi- and we are happy to help all those people and their tax professionals with crypto accounting and taxes," said Pat Larsen, CEO of ZenLedger. "We are thrilled about the fantastic investors in this round, and I'm excited to work with them and their amazing portfolio companies."

Finding new ways to provide value to the community, ZenLedger will add new products appealing to a broader professional audience, including Registered Investment Advisors (RIAs) and Certified Public Accountants (CPAs). Acting as the bridge between traditional finance and the crypto industry, ZenLedger helps financial service providers demystify crypto taxes, and adapt and expand their own businesses. Additionally, ZenLedger recently onboarded a diverse team of experts and leaders to support the start of these ongoing growth efforts.

"As the digital asset space matures, we expect the demand for services that help provide regulatory and tax compliance to grow significantly over the coming years. We believe ZenLedger offers one the most comprehensive crypto tax solutions in the market today and will help meet that growing demand," says Ryan Navi of ParaFi Capital. "We're proud to become a strategic partner that can help ZenLedger expand further to become one of the leading end-to-end crypto tax tools in the industry."

ZenLedger has grown 5x year-over-year in sales, and is widely regarded as the leading crypto tax solution. Supporting more exchanges, coins, wallets, blockchains, fiat currencies, and DeFi protocols than any other competitor, ZenLedger's powerful software and analysis is used by the IRS, Big 4 accounting firms ultra-high network tax practices, top 10 blockchain core developing teams, and token/crypto founders.

For more information, please visit: www.zenledger.io.

About ZenLedger.io
Founded in 2017, and built by veterans in technology, finance, and accounting. ZenLedger collects, analyzes, and accounts for your transaction information across thousands of exchanges, NFTs, DeFi, wallets, and tokens in one simple dashboard. The company leads the industry in number of blockchains and tokens supported. Crypto investors can gain easy, valuable portfolio and cash management insights while also saving time and stress. ZenLedger helps cryptocurrency investors stay compliant with integration support for over 500+ exchanges, 50+ blockchains, and 40+ DeFi protocols including NFTs. Zenledger supplies blockchain protocols, investment funds, corporations, and governments with the tools needed for taxation, accounting, investigation, and audits. ZenLedger's investors include blockchain venture funds, crypto founders, and leading crypto & fintech venture capital firms.

SOURCE ZenLedger