Capital markets News

Soros Funds back crypto data firm Lukka’s $53 million funding

tax reporting data

New York City-based crypto-asset software provider Lukka raised $53 million in a Series D round of funding. The lead investors were Soros Fund Management, S&P Global, and This financing brings Lukka’s total investments in the past 12 months to $75 million. 

The startup closed its Series C funding round of $15 million just three months ago. 

Lukka’s existing solutions primarily cover data, accounting and tax reporting. Client sectors include digital asset exchanges and trading desks, accounting firms and funds. It currently supports over 200 crypto funds and supplies crypto data to traditional financial firms, including S&P Dow Jones Indices, IHS Markit and Arca. 

The new funding will be used to expand Lukka’s products, such as supporting derivatives and DeFi products. It also aims to enhance the features of existing ones, such as Lukka Reference Data and Lukka Prime, which aim to simplify the complexities of crypto. The company is about to launch Lukka Essentials, a free portfolio management solution for retail users. 

“Innovation in the crypto ecosystem has exposed traditional finance to a new way of exchanging assets around the world. However, with any rapidly innovating industry, finance and other middle and back office operations can lag behind driving revenue and growth, which can quickly lead to very challenging and costly data issues when they begin to think about financial reporting, risk management, and audit readiness,” said Lukka CEO Robert Materazzi. “This new capital will help Lukka stay at the forefront of innovation so that we can continue to solve their most complex data challenges.”

Meanwhile, beyond being an investor, S&P Dow Jones has a collaboration with Lukka to build a cryptocurrency index. Separately, its Global Ratings division was recently recruiting a blockchain engineering lead, implying further use of the technology on the firm’s operations. Furthermore, in December of last year, for $44 billion S&P acquired IHS Markit, which is also working with Lukka on crypto asset data distribution.