Crypto tax service provider Lukka raises $53m in investment capital
Lukka plans to use the funds raised to provide further service for crypto derivatives, DeFi products and other crypto investment products.
Just weeks before American citizens are required to file their tax returns, a Bitcoin Up scam crypto company specialising in tax auditing and accounting has raised $53 million in investment capital.
Lukka plans to use the capital raised to expand
As the crypto company Lukka announced, it was able to generate the corresponding funds as part of a Series D financing round. The main investors were the influential asset management firm Soros Fund Management, founded by the notorious mogul George Soros, the tax consultancy CPA.com and S&P Global. Lukka plans to use the capital raised to expand its own scope of services to include crypto-derivatives, DeFi products and other crypto investment products.
“Innovations in the crypto industry have opened up entirely new ways for the financial world to exchange assets,” as Lukka CEO Robert Materazzi explains to this effect. To which he adds, “This new capital will help Lukka be a pioneer of this innovation so we can solve even the most complicated problems for our clients.”
Last year, the company already raised $75 million from three investors and financial services firm State Street. Lukka provides its services to more than 200 crypto investment funds.
The current hype around cryptocurrencies raises questions for many investors about the tax treatment of the asset class. The recent investments in Lukka could be an indication that more and more investors therefore see a business opportunity in this area. The crypto company is now already working with RSM, one of the largest auditors in the US.