TRM Labs Raises $70 Million in Series B

TRM Labs, which focuses on crypto-related scams and financial crimes along with blockchain technology, has raised $70 million in a series B investment round. TRM has increased the total investment in series B to 130 million dollars with the 60 million dollar investment they have previously collected. The round is led by Thoma Bravo, while other participants include names such as Goldman Sachs, PayPal Ventures, B Capital, Amex Ventures and Citi Ventures, among others. TRM, which says that the funds raised will be used to develop products to combat crypto and financial crimes, also plans to hire new staff to grow the company. Esteban Castaño, co-founder and CEO of TRM Labs, said;

“Demand has never been stronger for solutions that help protect crypto users, impede illicit actors, and support blockchain-based innovation. As the industry continues to mature, TRM is setting the standard for data, products, and training that equip enterprises and governments to combat fraud and financial crime, even as new threats emerge.”

TRM Labs Investors
TRM Labs Investors

About TRM Labs

TRM is a company that tries to track, reduce fraud and financial crimes related to cryptocurrencies and produce products related to them. Based in San Francisco, TRM Labs’ products are currently used by tax authorities, financial intelligence units and government agencies. TRM currently consists of a team of 150 people.

References

www.forbes.com

www.trmlabs.com

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