The Layer 1 startup Alta has secured $47.5 million in a Series A funding round. The investment was led by Index Ventures, with participation from GV, Blackbird Ventures, Square Peg, and Capital49. This latest injection of capital brings the company's total funding to approximately $80 million, following a previous $32.5 million seed round backed by Airwallex and Capital49.
Alta is developing a blockchain platform specifically designed for banking institutions, prioritizing regulatory compliance at the protocol level. The system features a plug-and-play compliance layer that automates policy enforcement during transaction processing. The network is built to integrate with existing payment rails, supporting operations across more than 200 countries and 90 currencies.
The company was co-founded by Loong Wang, who has experience in crypto startups, and former Meta executive Catherine Porter. Unlike general-purpose blockchains that require external compliance tools, Alta integrates privacy controls and regulatory checks directly into its architecture. The firm aims to address the specific needs of financial institutions regarding cross-border money movement.
