Alta has raised $80 million in total funding to build blockchain infrastructure for regulated financial institutions. The total includes a $47.5 million Series A led by Index Ventures and $32.5 million in earlier seed financing. GV, Blackbird Ventures, Square Peg, and Capital 49 also participated.
Backing and early partner
Index Ventures led the Series A round. Airwallex supported the seed financing and has signed on as an early design partner. It plans to connect its global payments network to Alta's infrastructure.
Founders and footprint
Alta was co-founded by CEO Loong Wang, President Catherine Porter, and Jack Zhang. Zhang is the co-founder and CEO of Airwallex. The company has offices in Melbourne and San Francisco and about 25 employees.
Product focus
Alta's blockchain uses zero-knowledge cryptography to keep transactions, identities, and compliance policies private. The system is designed for cross-border payments, foreign exchange, and corporate treasury management. Its first product will help businesses reduce idle cash and move funds into yield-bearing tokenized assets.
The new funding will support development of Alta's blockchain infrastructure. It will also fund expansion of institutional partnerships and global financial connectivity. Alta plans to grow its engineering and compliance teams.