CDS Startups TRM Labs Raises $70M in Series B Investment Round
Startups

TRM Labs Raises $70M in Series B Investment Round

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TRM Labs Raises $70M in Series B Investment Round
TRM Labs Raises $70M in Series B Investment Round

Blockchain detective TRM Labs continues to develop new tools to support companies fighting crypto crimes, which have caused a loss of $ 3 billion this year.  The improvements they have made are attracting the attention of big names providing financial services.

About Investment

The extended Series B investment round was led by Thoma Bravo, a private equity firm specializing in technology. Together with its investors PayPal, American Express and Citigroup, the fund raised in the Series B investment round has reportedly been expanded to $70M.

American Express, Citi and PayPal had taken part in the previous $60 million Series B round and  PayPal even participated in the Series A investment round. Other investors include important firms such as Goldman Sachs, Visa and Block. Together with previous investments, the company has received an investment of close to $ 150M.

Esteban Castaño, CEO and co-founder of TRM, announced that TRM plans to use the funds raised for research and development, in particular, “to create new tools to help law enforcement agencies fight cryptocurrency crimes.” This year, about $ 3 billion was stolen in “crypto hacks”, almost all of which were in decentralized finance.

The funds from the investment rounds will also be used to expand the team as the demand for the company’s services increases.

References

forbes

Written by
yagiz

Yağız became interested in finance while studying international relations at Osmangazi University in 2014. He met blockchain technology in 2020 and never looked back. He is currently trying to participate in all blockchain events held in his region and develop himself in the field of blockchain.

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