Bitwave, a crypto accounting, tax and compliance platform, has raised $15 million in a Series A funding round led by Hack VC and Blockchain Capital. The round also saw participation from venture capital firms SignalFire, Valor Equity Partners, Arca, Pulsar Trading, and Alumni Ventures Blockchain Fund.
In a statement, Bitwave said the funds will be used to expand its team and continue the development of its platform, which aims to provide solutions for the accounting and compliance needs of crypto businesses.
“The crypto industry has seen tremendous growth in recent years, but it has also faced significant challenges in terms of accounting and compliance,” said Bitwave CEO. “Our platform is designed to help businesses navigate these challenges and make it easier for them to comply with the complex regulations in this space.”
Bitwave’s platform offers a range of tools for managing crypto assets, including tax reporting, accounting, and compliance. The company also provides support and guidance to help businesses stay up-to-date with the latest regulatory developments in the crypto industry.
“We are excited to partner with Bitwave and support their mission to bring greater transparency and compliance to the crypto space,” said Hack VC partner. “Their innovative platform is well-positioned to meet the growing demand for solutions in this area, and we believe it has the potential to become a key player in the industry.”
The $15 million funding round follows a successful seed round in which Bitwave raised $2 million from a group of angel investors. With the new funds, the company plans to continue building its platform and expanding its team to meet the increasing demand for its services.
Bitwave’s Series A funding round is a clear indication of the growing interest in solutions for the accounting and compliance needs of crypto businesses. As the industry continues to evolve and mature, companies like Bitwave are well-positioned to help businesses navigate the complex regulatory landscape.
