Three months after raising a $35 million round, Chicago crypto startup Zero Hash has landed more than $100 million in new funding for its technology that helps traditional finance companies offer cryptocurrency trading.
Zero Hash said Wednesday that it raised a $105 million Series D round from Bain Capital, NYCA and New York Mets owner Steve Cohen’s Point72 Ventures.
The startup has now raised $165 million to date.
Founded in 2015 and led by CEO Edward Woodford, Zero Hash helps any financial services company launch its own crypto offerings. It allows digital banks and other online trading companies the ability to let their customers buy and sell cryptocurrencies and NFTs.
Zero Hash works with online banks like MoneyLion and Wirex, payment processors like MoonPay and Ramp, and online brokers like Chicago's tastyworks.
Previously known as Seed CX, Zero Hash has grown to 85 employees and expects to have more than 150 by the end of the year, Woodford said in an interview. The startup is profitable, he said, with revenue increasing 15x last year.
Zero Hash plans to use the new funds to grow its tech and team, as well as for potential strategic acquisitions, Woodford said.
Just two weeks into January, Zero Hash is the third Chicago startup to raise at least $100 million or more, following Foxtrot's $100 million round and project44's $420 million investment.
