Crypto tax startup ZenLedger raises $15 million led by ParaFi Capital

Crypto tax startup ZenLedger raises $15 million led by ParaFi Capital

ZenLedger, a cryptocurrency tax company, has raised $15 million in a Series B round headed by ParaFi Capital, with participation from Three Point Capital, King River Capital, and Bloccelerate VC, among others.

For tax purposes, ZenLedger aggregates crypto investors’ transaction data from exchanges, NFTs, DeFi, and wallets into a single dashboard.

According to a press release, the increasing movement in tax enforcement has led to the company’s most successful tax season to date, with over 50,000 users.

To complement its professional capabilities, the new funding will add products such as registered investment advisors (RIAs) and certified public accountants (CPAs).

“As the digital asset space matures, we expect the demand for services that help provide regulatory and tax compliance to grow significantly over the coming years. We believe ZenLedger offers one the most comprehensive crypto tax solutions in the market today and will help meet that growing demand,” said Parafi Capital principal Ryan Navi in a press release.

This new investment comes as a number of countries begin to consider how to tax digital assets. Germany just stated that crypto sold after one year will not be taxed, while the government of South Korea is looking into methods to ease crypto tax regulations.

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