PRESS RELEASE. ATLANTA, June 7, 2022 – Ledgible, the first leading professional crypto accounting and tax platform, today announced $20 million in funding for its Series A Round led by EJF Capital LLC (“EJF”) through its affiliate, EJF Silvergate Ventures Fund.
Joining the round are JAM FINTOP, Thomson Reuters Ventures, TTV Capital, Fenbushi US, Commerce VC, Nathan McCauley and Perkins Coie. Ledgible is now at the forefront of the professional-focused crypto tax and accounting industry. This investment will be used to expand Ledgible’s product offerings, as well as significantly grow its equipment to meet growing demand for its offerings.
“For any individual, institution or company that owns or deals in crypto assets, the ability to properly account for them and realize the appropriate gains and losses for tax and accounting purposes is essential.” said Kell Canty, CEO of Ledgible. “At Ledgible, we provide the platform to bridge the gap between digital assets and traditional finance.”
The investment will be used to expand teams within its two main lines: professional tax and business accounting, including further expansion to support its growing number of institutional partners and accounting firms.
“We see cryptocurrencies as a transformative application of novel technology and as the next great investment asset class. Individual and institutional investors must be able to integrate and account for this investment and report to the IRS and other regulatory agencies, as appropriate,” he said. Jonathan Bresler, CEO of EJF. “We invested in Ledgible because we see them as the preferred solution for accounting for digital assets on the blockchain.”
This investment also marks a significant milestone in the professional tax space, underscoring the need and importance of cryptocurrency support in the industry.
“As a leader in tax and accounting technology, Thomson Reuters has direct insight into the complexity our clients face as cryptocurrencies continue to grow as an asset class. Ledgible is the leading crypto tax software for professionals and our investment reflects Thomson Reuters Ventures’ commitment to serving our clients through investments in emerging technology.” said Tamara Steffens, Managing Director, Thomson Reuters Ventures.
Ledgible Crypto Tax & Accounting Platform supports integrations to major blockchains, cryptocurrency exchanges, wallets, and professional accounting tools. As a bridge between crypto assets and traditional financial accounting, Ledgible determines the tax liabilities of cryptocurrencies and delivers that data to all professional tax reporting systems as well as general ledger systems. The platform features client management, collaboration-driven workflow, team management, and is used by tax and accounting professionals around the world.
Ledgible is an AICPA SOC 1 & 2 insured portfolio tracking and tax reporting platform for crypto assets for professionals, businesses and consumers. Ledgible Crypto Platform is the proven crypto asset solution for tax and accounting professionals with leading accounting firms, institutions and leading crypto companies globally. Thousands of companies use Ledgible Crypto Tax Pro to make filing taxes easier for their professionals and clients. For more information, visit ledgible.io.
EJF is a global alternative asset management company headquartered outside of Washington, DC with offices in London, England and Shanghai, China. As of March 31, 2022, EJF manages approximately $5.1 billion across a diverse group of alternative asset strategies. EJF has approximately 80 employees, including a seasoned investment team of approximately 30 professionals with significant experience in banking, finance, fintech and real estate. The firm was founded in 2005 by Manny Friedman and Neal Wilson and has focused on investment issues driven by regulatory events since its inception.
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