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Lukka
“ The traditional technology you are using is not built for crypto assets ,” is Lukka ’ s message to fund administrators . As one of the early crypto firms to set up with a view to support traditional funds administrators , Lukka has been partnering , adding experienced team members and emerging as a thought leader in this space for some years now . The efforts culminated in Series E funding round this year which valued company at more than $ 1.3 billion . Founded in 2014 , Lukka serves largest digital asset institutions with middle and back-office software & data solutions . The fintech aims to bridge the gap between the complexities blockchain data traditional business needs . Among the achievements over its eight-year span , and
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the organisation is always keen to point out its recognitions that satisfy rigorous technical control standards , such as AICPA SOC 1 Type II and SOC 2 Type II Service Organization Controls , for its data and software products . In December 2020 , State Street led Series C fundraising round into Lukka before then announcing its foray into offering fund administration services to private fund manage clients that are investing in cryptocurrencies and other digital assets through its partnership with Lukka . The Boston-based custodian is using middle- and back-office technology developed by Lukka to support with the collection , standardisation , enrichment , reconciliation , processing and reporting functions related to crypto and other digital assets .
ELEVATOR PITCH
Lukka believes digital assets and blockchain will be the fabric of global commerce . We are building data and software solutions in preparation for this future .
Notable partners and collaborators : State Street
State Street is also using the Lukka
Reference Data and Lukka Prime Pricing Data solutions that will enable it to consume crypto assets that are comingled within a private fund manager client ’ s traditional alternative investment portfolios . The agreement made public what we at Global Custodian had been hearing about Lukka in the preceding years – that it was set to play a major role in asset servicers launching fund administration offerings for their clients . As the fund administration world continues to roll out services around digital assets in the future , Lukka ’ s role could be set to continue to expand . The startup also boasts a strong roster of experienced securities services professionals including the former head of State Street ’ s digital partnerships and investments , Kinga Bosse ; the former CEO of fund administration firm Intertrust and head of global fund services at JP Morgan , Stephanie Miller , as chief operating officer ( COO ); and Dan Huscher , the former head of product development for pricing and reference data at IHS Markit . In 2019 , Global Custodian also handed Lukka an award for Innovation in Digitised Fund Servicing at its Industry Leaders awards .
36 Global Custodian Fall 2022