Alta Raises $47.5 Million in Series A Round Led by Index Ventures
The startup Alta has raised $47.5 million in a Series A round led by Index Ventures. Its blockchain, equipped with compliance tools, is designed for banks and large corporations.
Alta is developing its own blockchain for money transfers with a feature to verify transaction compliance with the regulations of different countries. The platform also allows blocking fund transfers to addresses without the consent of their owners—a capability the founders consider important for banks and large financial companies.
CEO Lun Wang founded Alta together with former Meta executive Catherine Porter. Previously, the startup was called Metal. Before Alta, Wang sold a crypto company and then participated in a quantum computing-based project for drug development.
The company raised $32.5 million in its seed round, with the primary investor being the Australian fintech company Airwallex. Now, Airwallex is helping Alta find clients within its international network and promote the platform for cryptocurrency operations.
Alta employs 25 people, with offices in San Francisco and Melbourne. The new round also included participation from GV (Google Ventures), Blackbird Ventures, Square Peg, and Capital49—a venture firm founded by the co-founders of Airwallex. Alta’s valuation following the round has not been disclosed.
