street 53m series soros fund

Lukka announced that it plans to add more features for the customers that are dealing in DeFi products, derivatives, and other products of the crypto space. Barely weeks before the filing deadline for the US taxpayers, crypto accounting and data company Lukka announced that it had raised an extra $53 million in new funding round.

In its March 26 announcement, Lukka said that it had completed a Series D funding round that was spearheaded by Soros Fund Management, accounting advisor CPA.com, and S&P Global. Lukka wants to add more features to cater to the needs of its users. The company’s co-CEO Robert Materazzi:

“Innovation in the crypto ecosystem has exposed traditional finance to a new way of exchanging assets around the world. This new capital will help Lukka stay at the forefront of innovation so that we can continue to solve [institutions’] most complex data challenges.”

The firm has raised $75 million in the past year from the three investors and financial services company State Street together with other institutional investors. Lukka has allegedly processed over $4.4 trillion in unique transactions to date serving at least 200 active crypto funds.

As digital assets and crypto adoption increase, a majority of the users have expressed their worries about tax management in the cryptocurrency space. Thus, the latest funding round for Lukka might be an indication of investors aiming to capitalize on the need for specialized accounting services. The company is now offering crypto tax software to the fifth-biggest accounting company in the US, RSM.

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