Deutsche Bank, Nasdaq Back Crypto Firm Elliptic in $120 Million Round

Blockchain analytics firm Elliptic Enterprises Ltd. has raised $120 million in a new funding round backed by Deutsche Bank AG and Nasdaq Inc.’s venture arm, as large financial institutions expand their digital-asset offerings.

The round, which was led by investment firm One Peak Partners LLP, values the startup at $670 million, the company said on Tuesday. London-based Elliptic will use the fresh injection of cash to expand adoption of its services and grow its global presence, Chief Executive Officer Simone Maini said in an interview.