Tres Raises $7.6M Seed Funding to Help Web3 Businesses Manage Their Crypto Treasury

Image source: Tres

Quick take:

  • Tres’s data engine helps Web3 businesses to monitor, manage and automate their finance.
  • It has monitored, analyzed and reconciled crypto assets of more than $40B dollars.
  • Its open-source Chrome extension allows users to view the data in any dApp wallet without a private key.

Tres, a company that enables financial workflows for Web3 assets, today announced that it has raised $7.6 million in a seed round led by boldstart ventures, with participation from F2; Mantis in partnership with The Chainsmokers; New Form; Kenetic; Blockdaemon Ventures and Alchemy.

Notable angels also participating in the round include Michael Shaulov, CEO of Fireblocks; Michael Gronager, CEO of Chainalysis; Jesus Rodriguez, CEO of IntotheBlock; Itay Malinger, CEO of Curv; Konstantin Richter, CEO of Blockdaemon and others.

The platform offers data coverage and financial workflows such as reconciliation, balance calculation, audit and reporting for Web3 assets from on-ramp to off-ramp, making it easier for Web3 businesses to monitor, manage and automate their finance.

Tres has Web3 customers in the US, Israel and Europe, including Hivemind, Stakely and Blockdaemon, and has monitored, analyzed and reconciled crypto assets of more than $40 billion.

“Web3 businesses are struggling to manage the exponential growth and complexity of financial data across digital assets. Tres’ financial platform provides an unparalleled level of visibility, monitoring, alerting and automation to Web3 finance teams and seamlessly translates high volumes of raw blockchain data into actionable information. We are thrilled to have the backing of the industry’s leading VCs and highly regarded crypto giants as we build out our platform,” said Tres co-founder and CEO Tal Zackon, who was recently a principal at F2 Ventures, which invested in Tres.

The company collects and aggregates digital asset data across disparate wallets, accounts and platforms, and claims to reduce the workload of manual spreadsheets — a process prone to human error — by 80%. The data allows Web3 finance teams to work with it the same way they handle fiat data for a familiar user experience.

Finance teams can also gain access to real-time, accurate data for use in a wide range of applications including accounting, reconciliation, ERP integrations, risk analysis, enterprise-grade DeFi dashboards, reporting, financial stress testing and treasury management.

Tres claims that its data engine can process tens of millions of transactions from on-chain and off-chain sources on a monthly basis. Its open-source Chrome extension allows users to view the data in any dApp wallet without having the private key as all data is available on the blockchain.

“Tres’s vision is to underpin the Web3 economy by unifying the myriad of financial data in one central, organized and crypto-native platform that finance teams can seamlessly work with from day one,” said Ed Sim, Founder, boldstart ventures.

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