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HomeAsian NewsRequest Finance raises US$5.5M from Animoca Manufacturers, others to simplify enterprise crypto...

Request Finance raises US$5.5M from Animoca Manufacturers, others to simplify enterprise crypto funds

Request Finance CEO Christophe Lassuyt

Request Finance, a Singapore-based enterprise crypto funds startup, right now introduced that it had closed a US$5.5 million seed spherical with institutional backers, together with Animoca Manufacturers, Balderton Capital, and XAnge.

The funding spherical additionally attracted the participation of Sebastien Borget (co-founder and COO at The Sandbox), Michael Kong (CEO of Fantom), and Stani Kulechov (founder and CEO of Aave), and Julien Bouteloup (Founding father of StakeDAO).

The funding shall be used to increase the corporate’s world crew. In an announcement, Request Finance stated that it’s actively hiring for a number of new roles, together with a Chief Finance Officer (CFO), software program builders, and positions in enterprise improvement and advertising.

The funding may even assist the corporate’s efforts to increase its in-app providers to incorporate bill financing, escrow, and even yield-farming. These options are geared toward serving to enterprises higher handle their crypto-financial operations.

Request Finance additionally said that as a part of its mission to assist enterprises simplify their crypto-financial operations, it has additionally backed the Web3cfo.membership, a rapidly-growing, unique neighborhood of finance and operations leaders at outstanding Web3 firms akin to Bankless, Consensys, Edge and Node, and The Sandbox.

Additionally Learn: Demystifying NFTs and DeFi

Request Finance goals to simplify and automate invoicing, bills, payroll, and accounting in crypto for greater than 1,900 Web3 groups. Since launching in January 2021, the corporate stated that US$200 million in crypto invoices had been paid by means of Request Finance.

By addressing widespread ache factors with enterprise crypto funds, akin to monetary reporting and regulatory compliance, it has attracted customers from totally different Web3 verticals. This consists of DeFi firms akin to Aave, metaverse and NFT-related initiatives akin to The Sandbox, and DAOs akin to Maker. Skilled providers companies serving Web3 firms akin to accounting companies, PR firms, and occasion organisers are additionally customers of its providers.

Request Finance additionally stated that it has additionally seen rising curiosity from Web2 tech firms as extra shoppers inquire about paying in crypto.

It credited its fast development to a number of macroeconomic traits, such because the rise of distant work within the wake of the pandemic.

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Picture Credit score: Request Finance

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