Alta Closes $47.5M Series A Led by Index Ventures

November 10 — According to Fortune magazine, blockchain startup Alta (formerly known as Metal) has closed a $47.5 million Series A funding round led by Index Ventures, with participation from GV (Google Ventures), Blackbird Ventures, Square Peg and Capital49, a venture fund set up by the co-founders of Airwallex. The valuation was not disclosed. Alta had previously completed a $32.5 million seed round backed mainly by Airwallex. Alta is building a Layer 1 blockchain for crypto money transfers aimed at banks and large enterprises, with its main selling point being a plug-and-play compliance layer that helps clients ensure transactions comply with regulatory requirements in each jurisdiction, alongside privacy tools and features such as blocking unsolicited airdrop transfers. Airwallex is one of its main distribution channels. Alta's co-founders include CEO Loong Wang and Catherine Porter, a former Meta executive who worked on Meta's crypto project.