Alta Raises $47.5 Million in Series A Led by Index Ventures

Alta raised $47.5 million in a Series A round led by Index Ventures, giving the blockchain company new capital as it builds compliance and privacy tools for banks and large financial institutions.

GV (Google Ventures), Blackbird Ventures, Square Peg and Capital49 also participated. Capital49 was founded by Airwallex co-founders. Alta’s valuation was not disclosed.

The company, previously known as Metal, has raised $80 million across the Series A and a $32.5 million seed round. Airwallex was a major investor in the seed financing.

Alta operates a Layer 1 blockchain with a compliance layer and privacy tools that can be configured for requirements across jurisdictions. The system is designed to help financial institutions handle on-chain transactions under differing local rules.

Airwallex is introducing Alta to its global customer base for cryptocurrency transactions. Alta’s pitch centers on blockchain infrastructure and cross-border financial compliance.