TEL AVIV, Israel, Sept. 21, 2022 – Nilos provides the one-stop shop for businesses to connect crypto wallets, bank accounts and PSPs and manage all their treasury operations such as tracking incomes, reconcile money flows and make payments across crypto and fiat seamlessly.
The round was led by Viola Ventures, Fabric Ventures and Mensch Capital Partners. Over 20 angels also participated in the round, including: Yuval Tal (Founder at Payoneer), Sebastien Borget (Co-founder at The Sandbox), Emmanuel Schalit (Founder at Dashlane), Benjamin Seror (CPO at SimilarWeb), Didier Valet (Ex Deputy CEO at Société Générale), Guillaume Houzé (Galeries Lafayette)…
There’s a growing number of businesses that handle dual crypto/fiat treasuries simultaneously or that would not onboard to crypto because of its complexity.
The idea of dealing with two different financial systems; multiple accounts to track, volatility, compliance issues, and reconciliation problems.
Nilos was founded in 2021 by Raphael Fettaya and Eytan Messika and 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 payments
Schedule and route effective crypto to fiat payouts (off ramp)
Extract detailed financial/accounting reports
Nilos also takes care of the AML/compliance that lies behind it:
Monitor incoming crypto transactions to spot suspicious source of funds
Provide custody services to store crypto accounts
Performs KYB onboarding
In 3 months, the team has grown to 10 people based across Israel and France and has worked with a number of NFT platforms, brands and agencies.
“I’m excited about our close collaboration with Nilos. I believe they play a key role in companies’ adaptation of web3. Their product is a perfect fit for our mission of helping owners of music rights take their first steps into the world of web3.” Sebastian Ljunberg, CTO at Anotherblock
“We are big believers in web3 infrastructure plays. The Nilos team is solving a huge gap, bridging financial and treasury services for both web2 and web3 companies who are looking to embed on-chain revenues with their fiat operations in a seamless, compliant and secure way.” Omry Ben David, General Partner at Viola Ventures
“As a business, freelancer or creator, once you have a wallet setup, it’s the easiest thing to accept payments using the blockchain payment rails, but it’s everything that comes afterwards that’s difficult. Anything to do with managing income (treasuries), storing currencies safely, exchanging these to stable currencies, using the right chain from acceptance to withdrawal, using the right exchange to offramp and doing this in a legally compliant manner with the right documentation is extremely difficult and a fragmented manual process right now. I’m really happy to be partnering with the guys at Nilos, to solve this key missing piece of financial infrastructure which will make crypto more widely accessible.” Anil Hanjsee, General Partner at Fabric.vc
To find out more : https://www.nilos.io/
SOURCE Nilos
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