Vestigo Ventures, an early-stage venture capital firm focused on investments in fintech companies, announced today that it led a $1.5 million financing round for ZenLedger, a provider of software for cryptocurrency investors and their accountants.
Seattle-based ZenLedger enables investors and CPAs to import cryptocurrency transactions, calculate gains and income, and auto-fill tax forms. Proceeds from the capital raise will allow ZenLedger to accelerate product development and expand its marketing to CPAs and individual investors, and provide them with the tools necessary to properly report and optimize their taxes.
“An underlying investment thesis of Vestigo Ventures is a strong belief in the need for a formidable infrastructure for investing in digital assets. ZenLedger is exactly what the market needs to give crypto investors and their accountants the tools to properly report their profits and losses. What is most interesting to our team is ZenLedger’s ability to help accountants become more competitive and provide additional value to their clients as cryptocurrencies continue to gain in popularity among retail investors. Under the leadership of Pat Larsen, CEO, and Bryan Starbuck, CTO, we are confident ZenLedger boasts the right mix of large technology company and entrepreneurial startup experience.”
“We look forward to accessing Mark Casady’s knowledge and insight, as well as working closely with the Vestigo Ventures team for introductions to potential clients and leveraging their many decades of operational experience as we scale the business.”
The financing round also included Castle Island Ventures.
“Tax preparation is an acute pain point for crypto-asset investors, both large and small. The ZenLedger team has built a solution specific to addressing this critical piece of market infrastructure and we are excited to support the expansion of their efforts.”