Quick take:
- Former Coinbase CTO Balaji Srinivasan and Dapper Labs founder Roham Gharegozlou invested in the round.
- In the last 5 months, the platform has helped companies process $5B in crypto accounting transactions.
- Integral founder Gui Laliberte was most recently an entrepreneur-in-residence at Electric Capital.
Integral, a real-time accounting platorm for Web3 businesses, has closed an $8.5M round of funding led by Electric Capital. Notable investors include former Coinbase CTO Balaji Srinivasan, Color Genomics co-founder Elad Gil, Hustle Fund, Mantis, Maple VC, Anchorage founder Diogo Monica, Dapper Labs founder Roham Gharegozlou, and more.
Integral delivers financial data in real-time to Web3 teams and enables them to automate their bookkeeping. The platform deploys real-time profit & loss statements for crypto accounting transactions, synchronises transactions and balances with the accounting software of choice, and automatically calculates gains and losses across tokens & instruments, among other features.
Over the last 5 months alone, the platform has helped companies process $5 billion in crypto accounting transactions for Web3 companies. The platform supports multiple data entry points such as wallets, exchanges, custodians, on-chain safes, and Ethereum L1, EVM L2s, and Solana chains, with more to be integrated soon.
“Real-time finance is essential for web3 companies. In web2, insights come 7-30 days after the month-end. In web3, 30 days could be the difference between owning $10M and $5M worth of crypto assets,” said Gui Laliberte, founder of Integral.
Laliberte previously founded and sold Sequoia-backed homeownership platform Setter and was most recently an entrepreneur-in-residence at Electric Capital. Integral’s team consists of former security and data executives from Palantir, Paypal, Amazon, Meta, and VMWare.
Integral is currently offering early access passes to Web3 companies, DAOs, and Web2 companies with crypto ambitions and crypto treasuries over $10M.
This news came shortly after Israel-based accounting data aggregator, Tres, announced the closing of its $7.6 million seed round on Tuesday. Following that, another Israel-based Web3 accounting startup, Nilos, also announced its $5.2 million seed funding today.
Another Web3 finance management platform, Headquarters (HQ), also announced today that it has raised $5 million in a pre-seed round led by Crypto.com Capital. The financial management platform is developing a back office service that will help web3 teams better manage their financial operations across custodial and non-custodial wallets.
With four Web3 accounting services firms announcing their fundraises within a day of each other to address similar bookkeeping challenges that Web3 companies face, crypto accounting infrastructure could soon become a niche in the market.
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