← 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+

Supplier profile · 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.

Founders: Esteban Castaño, Rahul Raina
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 and each company’s full embedded-finance stack are in the Embedded Finance Index report. 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.