Vestigo Ventures is a startup venture capital firm that focuses on investment in fintech companies. Headquartered in Massachusetts, Vestigo Ventures has identified four key areas of concentration: market structure, operation solutions, personal wealth, and worksite management. The firm has disclosed that it led a $1.5M USD financing round for ZenLedger. ZenLedger is the SaaS (software as a service) industry-leading tax software for crypto-asset investors and their accountants.
Based in Seattle, ZenLedger enables crypto-asset investors and CPAs to import relevant cryptocurrency transactions and determine income and gains. In addition, the software enables the users to auto-fill their tax forms. Castle Island Ventures will also participate in the financing round.
Indeed, ZenLedger allows for the acceleration of product development and marketing expansion to CPAs and crypto-asset investors. Conveniently, ZenLedger will also enable users to optimize and report their taxes.
The General Partner of Vestigo Ventures, Mark Casady, explains the relevance of the ZenLedger. Casady says that the Vestigo Ventures’ foundational investment thesis is the belief in building a robust infrastructure for crypto-asset investments. He noted that ZenLedger is the right tool that crypto-asset investors and their accountants need to properly report their profits and losses.
Casady, who will serve as ZenLedger’s board observer, highlights ZenLedger’s function that they consider the most important. He said that Vestigo Ventures is fascinated that the software will help accountants to be more competitive. He also noted that ZenLedger will provide additional value to clients as the cryptocurrency space continues to open up. The distant partner concluded that the software will boast a mix of large tech firms and startups experiences. He noted that mixing the experiences is possible under the leadership of CEO Pat Larsen and STO Bryan Starbuck.
CEO Pat Larson said that his team looks forward to assessing the knowledge and insight of Mark Casady. Larson pointed out that they would also work closely with Vestigo Ventures team to meet more prospective clients. He also stated that his team would leverage the partners’ experience as they continue to scale the business.
Matt Walsh likened tax preparation to crypto-asset investors’ acute pains. Walsh noted that the ZenLedger team has built solution-specific software for addressing a critical aspect of market infrastructure. In conclusion, he expressed his excitement about his team’s resolve to support the expansion of ZenLedger team’s efforts.
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