Ledgible plans to use the funds to expand its product offerings and team. Here are the top-line bullets you need to know
Ledgible, a crypto tax platform, has raised $20M in a Series A. The round drew participation from Commerce Ventures, EJF Capital, Thomson Reuters Ventures, Perkins Coie, and Fenbushi Capital, among others.
How’s the company performing?
- Georgia-based Ledgible offers crypto tax, crypto accounting, and crypto audit services to enterprises and individuals.
- The company’s client base includes Fiserv, Intuit, and Celo.
- Its crypto tax and accounting platform supports integrations across cryptocurrency exchanges, professional accounting tools, blockchains, and crypto wallets.
Source: Ledgible
Why does the market matter?
- The global crypto asset management market is expected to reach a value of $1.2B by 2026, growing at a CAGR of 21.5%, according to Markets and Markets.
- The rising number of crypto transactions being made across several applications, wallets, and exchanges has driven up the demand for asset tracking and monitoring tools to support tax compliance.
- Various retail and e-commerce businesses are starting to accept cryptocurrency as payment, which has led these businesses to turn to asset management services.
- Recently, the crypto market has taken a plunge due to a major selloff in stocks and other digital assets, which could negatively impact this market.
