According to TechFlow, on October 17, TheBlock reported that zkPass completed a $12.5 million Series A financing with a token valuation of $100 million. Investors in this round of financing include dao5, Animoca Brands, Flow Traders, Amber Group, IOBC Capital, Signum Capital, MH Ventures and WAGMI Ventures. Co-founder and CTO Bing Jiang said that there was no lead investor in this round of financing because zkPass's goal is to get all investors involved, and if only one lead investor holds a large share, then they may get more returns.

It is reported that zkPass is a data verification protocol based on zero-knowledge proof that allows users to prove information without sharing actual data (such as identity or financial records).