CoinTracker, a platform for managing cryptocurrency investments and generating tax reporting, raised $100 million in a Series A round led by Accel.
Announcing our $100M Series A, led by @Accel.
Thank you to all our investors, team members, and the CoinTracker user community for being a part of our mission to increase the world’s financial freedom and prosperity.https://t.co/r9VTywp8U6
— CoinTracker (@CoinTracker) January 27, 2022
The round also included Coinbase Ventures, Kraken Ventures, Intuit Ventures, General Catalyst, Initialized Capital, Y Combinator Continuity, Seven Seven Six Ventures, and several angel investors. CoinTracker’s valuation reached $1.3 billion.
In an interview with The Block, CoinTracker CEO John Lerner said the funds would be used to expand into European countries, increase the number of exchange partners, hire staff, and improve the platform’s functionality.
Earlier, the startup’s team was joined by Gaurav Garg, who has experience at Google and Uber as lead developer, and former Robinhood head of product Zak Reno-Viden, who will take on a similar role at CoinTracker.
The startup also collaborates with TurboTax, OpenSea, and recently with Coinbase. CoinTracker plans to expand the number of supported blockchains and protocols.
In November, U.S. President Joe Biden signed the infrastructure plan. The document contemplates expanding the number of people who will be required to report to the IRS about the activity of their users.
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