Harris and Trotter Digital Assets, a London-based cryptocurrency accountancy company, has just closed a $10 million funding round in a significant step to addressing accounting challenges for Web3 projects.
The funding round was led by Orbs, joined by investments from Kingsway Capital, RE7 Capital, and other key figures within the Web3 community, and it was structured as a priced equity round, valuing Harris and Trotter Digital Assets at $85 million.
Harris and Trotter to transform digital asset accounting
The executive team at Harris and Trotter Digital Assets brings extensive experience from major accountancy firms such as PwC, KPMG, Deloitte, EY, and BDO, totaling over 45 members.
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Harris and Trotter CEO Nicholas Newman stated:
“Digital Assets is a rapidly evolving technological space whose needs can only be met by an equally technologically enabled professional services firm. This strategic investment aligns us with some of the largest movers and shakers in this industry, which allows us to grow our technological arm further as we release our growing suite of SAAS products and services.”
This investment will accelerate their rapid growth, expanding their current base of around 500 crypto-native clients.
Ran Hammer, VP of Business Development at Orbs, emphasized the technological expertise of the Harris and Trotter team, stating:
“Harris and Trotter Digital Assets continue to combine their expertise with blockchain-powered technology. The team now looks to operate on the cutting edge of financial technology, delivering tools such as proof of reserves. This is particularly interesting as it’s where Orbs’ technology could be leveraged to ensure all data is trustworthy, accurate, and verifiable.”
Additionally, the strategic investment aims to deepen the firm’s technological focus, enhancing its SAAS revenue and competitive position.
Further Harris and Trotter partnerships
Harris and Trotter Digital Assets collaborates with some of the industry’s most prominent players, such as 1inch, Wintermute, and Blockchain.com, providing a range of services including audit, advisory, accounting, bookkeeping, compliance, and taxation.
With a deep knowledge of crypto, the team helps shape regulatory frameworks and engages with the industry globally as an independent member of BKR and community-led interest groups like Web3CFO.
Their innovative Proof of Reserve service, powered by Chainlink, ensures transparency in clients’ on-chain and off-chain reserves.
