Balderton Capital and Animoca Brands back Request Finance with $5.5M to streamline crypto payments

Paris-based enterprise crypto payments Web3 startup Request Finance has raised $5.5 million in funding. The seed round was supported by institutional backers including Metaverse firm Animoca Brands, early-stage venture capital investor Balderton Capital and XAnge. The company’s seed round also attracted a number of high-profile Web3 founders, including Sebastien Borget, co-founder and COO of The Sandbox, Michael Kong, CEO of Fantom, Stani Kulechov, founder and CEO of Aave, and Julien Bouteloup, founder of StakeDAO .

The new cash injection is said to support the company’s efforts to expand its in-app services to invoice financing, escrow, and even yield farming. These features aim to help businesses better manage their crypto financial operations.

Founded in 2021, Request Finance simplifies and automates invoicing, expenses, payroll and accounting in crypto for 1,900+ Web3 teams.

With an ever-growing number of ways to enable payments for the open Metaverse and Web3, the demand for such startups is expected to increase. According to the company, over $200 million worth of crypto bills have been paid through its platform. By addressing common vulnerabilities in enterprise crypto payments such as financial reporting and regulatory compliance, it has attracted users from various Web3 industries. This includes DeFi companies like Aave, Metaverse, and NFT-related projects like The Sandbox and DAOs like Maker.

Christophe Lassuyt, CEO and co-founder of Request Finance, said: “Compliance-friendly companies choose Request Finance to document their crypto transactions and love the experience.”

Yat Siu, Executive Chairman and Co-Founder of Animoca Brands, added: “Request Finance enables Web3 projects – including some Animoca Brands companies – to save time and effort on crypto payments. We believe the company has significant potential for growth and expansion.”

Maxime Le Dantec, Principal at Balderton Capital, concluded: “The popularity of cryptocurrencies poses serious challenges for CFOs and their teams. Bank accounts are increasingly being replaced by wallets, financial institutions are now competing with decentralized lending protocols, and legacy payment networks are being replaced by blockchains. The traditional enterprise finance software stack of tools like Melio Payments or Bill.com is less relevant than a crypto-native tool like Request Finance.”

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