Jack Zhang's blockchain fintech Alta raises $67 million Series A
Jack Zhang's blockchain startup Alta raised US$47.5m Series A to help banks settle payments 24/7.
Alta, based in Melbourne and San Francisco, announced a US$47.5m (A$67m) Series A funding round led by Index Ventures. Backers also include GV, Australian firms Blackbird and Square Peg, and Capital 49.
Jack Zhang launched Alta with entrepreneur Loong Wang and former Meta developer Catherine Porter. The startup helps banks settle payments around the clock using blockchain.
The funding will hire engineers and compliance specialists, develop the blockchain further, and bring banks and payment providers onto the network. Zhang previously said crypto had not solved real problems, but changed his view when AI agents needed programmable payments.
- US$47.5 million
- Series A funding
- A$67 million
- Australian dollar equivalent
- Index Ventures
- Lead investor
- Jack Zhang, Loong Wang, Catherine Porter
- Cofounders
Why it mattersMajor venture funding signals investor confidence in blockchain-based banking infrastructure, particularly as AI systems demand programmable payments.
AustraliaAustralian fintech is expanding into blockchain banking with significant global venture backing, though the technology remains experimental.
