Nilos has bagged €5.2m from a financing round to offer what it claims is a ‘first-of-its-kind’ platform that unifies crypto and fiat treasuries for businesses.
The round was headed by investors such as Fabric Ventures, Viola Ventures and Mensch Capital Partners.
Over 20 angels from the tech and business sector also took part in the round, including Payoneer founder Yuval Tal, The Sandbox co-founder Sebastien Borget, Gmoney, Valentine Baudoin and Dashlane founder Emmanuel Schalit.
Nilos claims it provides the one-stop shop for firms to connect crypto wallets, corporate bank accounts and/or payment service providers and centralise all their treasury operations, such as tracking incomes, reconcile money flows and payments across crypto and fiat seamlessly.
Nilos provides a platform that allows businesses to connect all their accounts through one single interface, track all their crypto and fiat transactions in one unified ledger, reconcile their crypto and fiat payments, extract detailed reports for business or accounting purposes and schedule, route and trigger effective crypto to fiat payouts.
Nilos co-founder Eytan Messika said, “We believe that crypto can disrupt businesses in many ways, starting from cross-border payments to new opportunities such as NFTs. But today, every step of the way is a painful process. We want to become the world’s standard for managing its crypto finances by abstracting its complexity and making it as simple as managing fiat.”
The round was led by OneRagtime and Kima Ventures.
Copyright © 2022 FinTech Global