Solidus Labs CTO Praveen Kumar (left), COO Chen Arad (top) and CEO Asaf Meir (right). (Solidus Labs PR pic)
Solidus Labs, an Israeli startup that works to fight manipulations in cryptocurrency trading, raised $45 million in a Series B funding round, led by Liberty City Ventures. A year ago the company raised $20 million in a Series A round led by Evolution Equity Partners.
But the new investors in Deel may be wishing right now that they had waited just a little while longer. This is because the whole cryptocurrency market just crashed, costing investors a fortune. Major Cryptos like Bitcoin are now down more than 60% from their highs and crypto exchanges like Luna are crashing. People everywhere have lost their shirts.
Founded in 2017 by CEO Asaf Meir, COO Chen Arad and CTO Praveen Kumar, Solidus Labs says that it is a team of finance veterans on a mission to enable safe and regulated crypto markets through tailored compliance and risk monitoring solutions. Solidus Labs boasts the first crypto-native, comprehensive, automated and testable market surveillance and risk monitoring hub tailored for digital assets. Crypto businesses globally rely on Solidus’ solutions in order to apply for licensing, attract institutional investors, protect their users and grow faster – and safer.
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“The additional funds will allow us to support the growing cohort of financial institutions looking to expand into the DeFi space, accelerate the deployment of our threat intelligence capabilities, and expand our R&D to solve a fast-growing array of DeFi specific use-cases and needs,” said Asaf Meir, founder and CEO.
The company offers Solidus HALO, a service it says offers a real time, comprehensive, testable, and future-proof platform.
Solidus Labs’ namesake – the “Solidus” – was the late Roman Empire’s gold standard coin, an innovatively minted coin that enabled global commerce for a millenia. Given appropriate safeguards in place, we believe digital assets minted today are bound to transform financial markets – for generations to come.
