Alta raises $47.5M Series A led by Index Ventures, bringing total funding to $80M

Alta has raised a $47.5 million Series A led by Index Ventures, with GV, Blackbird Ventures, Square Peg and Capital 49 participating. It follows $32.5 million in seed financing, for $80 million in total.

Alta builds blockchain infrastructure for regulated financial institutions. It uses recursive zero-knowledge cryptography so that balances, transactions, identities and compliance policies stay private while transactions are checked against the required rules. CEO Loong Wang co-founded the company with President Catherine Porter and Airwallex CEO Jack Zhang.

Airwallex is building on Alta, connecting its payments network for stablecoin pay-ins and pay-outs and local fiat rails across 200 countries. Alta's first product targets the capital tied up in prefunded accounts, which it puts at about $4 trillion globally.

The money goes to infrastructure, institutional partnerships and engineering and compliance hires.