With the crypto space growing there is an increasing need for innovative finance solutions to keep pace. Paris-based fintech startup Request Finance is paving the way for enterprises to simplify payments and has just raised around €5.1 million, EU-Startups reports.
Request Finance is a Web3 enterprise crypto payments provider. Its platform helps companies manage and automate invoicing, expenses, payroll and accounting. The Paris-based company has just closed a €5.1 million seed round with backers including Animoca Brands, Balderton Capital and XAnge.
The startup has also attracted a lineup of Web3 founders as backers; Sebastien Borget co-founder and COO at The Sandbox, Michael Kong, CEO of Fantom, Stani Kulechov, founder and CEO of Aave, and Julien Bouteloup, Founder of StakeDAO are among the ‘names’ involved.
Launched in 2021, Request Finance aims to address common pain points with enterprise crypto payments, most commonly financial reporting and regulatory compliance. With recent growth across Web3 verticals, the startup is growing fast and offering a service that is in increasing demand. DeFi companies like Aave, metaverse and NFT-related projects like The Sandbox and DAOs like Maker are examples of businesses that will reportedly benefit from Request Finance.
With enterprise-friendly features like on-chain payment confirmations, automated billing, mark-to-market exchange rates and integrations with accounting software like Xero, Request Finance has rapidly grown to become the leading enterprise crypto payments platform. The young company has already simplified financial operations for over 1,900 teams.
Christophe Lassuyt - CEO and co-founder of Request Finance - said, “We are encouraged by the overwhelming interest that we have received from our early adopters. Compliance-friendly companies choose Request Finance to document their crypto transactions, and love the experience.”
With increasing calls for crypto payments to be regulated under existing tax and anti-money laundering laws, Request Finance offers enterprises an easy way to document the critical information about their crypto payments which is now typically required by authorities.
Maxime Le Dantec - Principal at Balderton Capital - commented, “The popularity of cryptocurrencies poses serious challenges to CFOs and their teams. Bank accounts are increasingly replaced by wallets, financial institutions now compete with decentralized lending protocols, and legacy payment networks are being replaced by blockchains. The traditional enterprise finance software stack made of tools like Melio payments or Bill.com is less relevant than a crypto-native tool like Request Finance.”
The fresh funding boost will be used to continue growing Request Finance’s global footprint and to expand its in-app services to include invoice financing, escrow, and even yield-farming. These features are aimed at helping enterprises better manage their crypto-financial operations. Yat Siu - executive chairman and co-founder of Animoca Brands - said, “The opportunities that lie in powering payments for the open metaverse have attracted a number of large, traditional payment companies. But crypto-native solutions like Request Finance play a critical role in addressing the needs of Web3 enterprises and their communities.”
The startup has also attracted a wide range of professional services firms serving Web3 companies like accounting firms, PR companies, and event organisers. In addition, it has seen growing interest from Web2 tech companies, as more clients consider paying in crypto. The rise in remote work is one of the factors helping to fuel this rapid growth and demand for Request Finance’s services, as more remote-first teams are reportedly turning to the firm to manage their global payroll in crypto.
Sebastien Borget - Co-Founder and COO of metaverse giant, The Sandbox - personally backed the company’s seed round. He said, “We’ve been looking for a robust solution to enable the crypto payments of hundreds of monthly invoices; salaries and various expenses generated through our activity; Request Finance has been the go-to solution that delivered above our expectations and that scales as The Sandbox keeps expanding the open metaverse.”
Source: EU-Startups
(Link and quotes via original reporting)
With the crypto space growing there is an increasing need for innovative finance solutions to keep pace. Paris-based fintech startup Request Finance is paving the way for enterprises to simplify payments and has just raised around €5.1 million, EU-Startups reports.
Request Finance is a Web3 enterprise crypto payments provider. Its platform helps companies manage and automate invoicing, expenses, payroll and accounting. The Paris-based company has just closed a €5.1 million seed round with backers including Animoca Brands, Balderton Capital and XAnge.
The startup has also attracted a lineup of Web3 founders as backers; Sebastien Borget co-founder and COO at The Sandbox, Michael Kong, CEO of Fantom, Stani Kulechov, founder and CEO of Aave, and Julien Bouteloup, Founder of StakeDAO are among the ‘names’ involved.
Launched in 2021, Request Finance aims to address common pain points with enterprise crypto payments, most commonly financial reporting and regulatory compliance. With recent growth across Web3 verticals, the startup is growing fast and offering a service that is in increasing demand. DeFi companies like Aave, metaverse and NFT-related projects like The Sandbox and DAOs like Maker are examples of businesses that will reportedly benefit from Request Finance.
With enterprise-friendly features like on-chain payment confirmations, automated billing, mark-to-market exchange rates and integrations with accounting software like Xero, Request Finance has rapidly grown to become the leading enterprise crypto payments platform. The young company has already simplified financial operations for over 1,900 teams.
Christophe Lassuyt - CEO and co-founder of Request Finance - said, “We are encouraged by the overwhelming interest that we have received from our early adopters. Compliance-friendly companies choose Request Finance to document their crypto transactions, and love the experience.”
With increasing calls for crypto payments to be regulated under existing tax and anti-money laundering laws, Request Finance offers enterprises an easy way to document the critical information about their crypto payments which is now typically required by authorities.
Maxime Le Dantec - Principal at Balderton Capital - commented, “The popularity of cryptocurrencies poses serious challenges to CFOs and their teams. Bank accounts are increasingly replaced by wallets, financial institutions now compete with decentralized lending protocols, and legacy payment networks are being replaced by blockchains. The traditional enterprise finance software stack made of tools like Melio payments or Bill.com is less relevant than a crypto-native tool like Request Finance.”
The fresh funding boost will be used to continue growing Request Finance’s global footprint and to expand its in-app services to include invoice financing, escrow, and even yield-farming. These features are aimed at helping enterprises better manage their crypto-financial operations. Yat Siu - executive chairman and co-founder of Animoca Brands - said, “The opportunities that lie in powering payments for the open metaverse have attracted a number of large, traditional payment companies. But crypto-native solutions like Request Finance play a critical role in addressing the needs of Web3 enterprises and their communities.”
The startup has also attracted a wide range of professional services firms serving Web3 companies like accounting firms, PR companies, and event organisers. In addition, it has seen growing interest from Web2 tech companies, as more clients consider paying in crypto. The rise in remote work is one of the factors helping to fuel this rapid growth and demand for Request Finance’s services, as more remote-first teams are reportedly turning to the firm to manage their global payroll in crypto.
Sebastien Borget - Co-Founder and COO of metaverse giant, The Sandbox - personally backed the company’s seed round. He said, “We’ve been looking for a robust solution to enable the crypto payments of hundreds of monthly invoices; salaries and various expenses generated through our activity; Request Finance has been the go-to solution that delivered above our expectations and that scales as The Sandbox keeps expanding the open metaverse.”
Source: EU-Startups
(Link and quotes via original reporting)