TRM Labs Raises $14 Million in Series A Funding

Fazzaco learned that TRM Labs, a provider of blockchain intelligence solutions, has raised $14 million in a Series A funding round, led by Bessemer Venture Partners with participation from PayPal Ventures, Initialized Capital, Jump Capital, Salesforce Ventures, Operator Partners, Blockchain Capital, and executives from Google. Other existing investors include Y Combinator, Alumni Ventures Group, The MBA Fund, Tapas Capital, SGH Capital.

TRM’s platform integrates with more than a dozen blockchains, and analyzes billions of virtual asset transactions to detect in real-time signs of fraud and financial crime like money laundering. 

​With the increasing adoption of cryptocurrencies and blockchain technologies worldwide, financial institutions including major banks, brokerages, and exchanges across US, Latin America, Asia, and Europe are turning to TRM for cryptocurrency compliance and risk management solutions. TRM drove 600 percent revenue growth in the last year and has doubled headcount.

Commenting on this news, Esteban Castaño, co-founder and CEO of TRM Labs, said, “I could not be more proud of what the team at TRM has built and I am honored to have the extraordinary team at Bessemer lead our Series A. This partnership is exactly what TRM needs to continue to invest in our clients in an industry characterized by explosive growth. Our mission at TRM is to build a safer financial system for billions of people and we are so fortunate to have these investors onboard.”