← Embedded Finance Index 2026/Vendor

TRM Labs

Provider

Embedded-finance supplier tracked in the Embedded Finance Index — no company has publicly disclosed it yet. Filed under Infrastructure / KYC.

trmlabs.com ↗Also analysed as a company — its own stack →

Buyersnone disclosed yet
HeadquartersSan Francisco, CA, United States
Founded2018
FoundersEsteban Castaño, Rahul Raina
Raised~$150M+

Founders & story · from TRM Labs’s own dossier

Founded 2018 (as Frienli) by ex-Google/Amazon/UBS engineers to build blockchain intelligence and AML tooling for banks and crypto firms. Grew from a compliance-plumbing regtech into a national-security-focused platform serving law enforcement in 50+ countries plus private-sector institutions. 2026 Series C at unicorn valuation reframes the company as an AI-first crime-disruption platform rather than purely crypto compliance.

Latest round: Series C, 2026

Recent developments

2026-02Closed $70M Series C at $1B valuation led by Blockchain Capital. source ↗

Full dossier: TRM Labs’s own stack, layer by layer →

Who uses TRM Labs

No disclosed buyers yet — no dossier in the Index names TRM Labs in its stack so far

The complete buyer list is not published on this page. Get the monthly recap for new TRM Labs customers as they are disclosed. Represent TRM Labs? This profile opens for claiming as soon as the first company discloses TRM Labs in its stack — or send us a public customer page and we will add the disclosure.

TRM Labs — frequently asked

Who founded TRM Labs?

TRM Labs was founded by Esteban Castaño and Rahul Raina and is founded in 2018, headquartered in San Francisco, CA, United States.

How much funding has TRM Labs raised?

TRM Labs has raised ~$150M+ in total.

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