Cryptio, an accounting, audit and tax software for cryptocurrency, has picked up $10m in its Series A round.
The investment was led by Point Nine, a seed-stage venture firm, with contributions also coming from BlueYard, Alven, Coinshares, Avantgarde Finance, Protocol Labs and Draper Associates.
Several angel investors also joined the round, including senior executives from Twitter, GoCardless, Fireblocks and Ledger.
With the capital, the company plans to bolster its go-to-market hiring, product development and expand its offering to publicly traded companies and institutions.
Cryptio is an enterprise-grade crypto accounting and reporting platform. Its software helps financial institutions, corporates and crypto-native businesses navigate the fragmented digital-asset landscape.
It claims to bridge the gap between blockchain and legacy accounting systems. Its features include aggregated transactions and assets in a single location, real-time retrieval of transaction history, automated auditing, automated DeFi tracking, GAAP & IFRS-compliant valuation system, automated labelling and transaction reconciliation and more.
Its services are used by over 200 crypto-native enterprises such as Consensys, Aave, DeFi Saver, and The Sandbox.
The FinTech company experienced a 12-times revenue growth since its seed round in March 2021.
Cryptio founder and CEO Antoine Scalia said, “The biggest challenge with crypto accounting on the institutional level is having auditable and reliable transaction history data. Block explorers and third-party data providers often fail to capture complex crypto activity like DeFi, Staking, Mining, and NFTs. These discrepancies can’t be tolerated at the institutional level.
“At Cryptio, we’re obsessed with data accuracy and have partnered with Layer-1 foundations to build proprietary blockchain indexers. We’re able to reliably pull transaction data and perform mini-audits, ‘sanity checks’ to prove data quality.”
Earlier in the week, Indonesian crypto asset trading and investment app PINTU closed its Series B on $113m.
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