ZenLedger, a tax software developer for cryptocurrency investors, has received $1.5m in its financing round.
Early-stage FinTech investor Vestigo Ventures led the round of funding, with participation also coming from Castle Island Ventures.
Seattle-based ZenLedger empowers cryptocurrency investors and certified public accountants to import digital token transactions, manage their portfolio, generate profit loss statements and automatically complete tax forms. The technology platform helps to complete tax forms including 8949, Schedule D, FinCen114 & FBAR.
This equity injection will be used to increase product development and bolster its marketing efforts to certified public accountants, and individual investors.
Castle Island Ventures partner Matt Walsh said, “Tax preparation is an acute pain point for crypto-asset investors, both large and small. The ZenLedger team has built a solution specific to addressing this critical piece of market infrastructure and we are excited to support the expansion of their efforts.”
Last month, FinTech Global reported Vestigo Ventures closed its maiden fund on $53.9m. The firm focuses on early-stage FinTech companies applying technology like blockchain, AI and big data to improve market structures, provide operational solutions, enhance worksite management and/or support personal wealth strategies.
The firm has made a number of FinTech companies over the past year including a recent contribution to the $2m seed round of TowerIQ. The company partners with insurance brokers, agents and carriers to offer modern consumer experiences to policyholders.
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