Nilos raises $5.2M to build the first platform that unifies crypto and fiat treasuries for businesses

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TEL AVIV, Israel, September 21, 2022 /PRNewswire/ — nilos provides the one stop shop for businesses to connect crypto wallets, bank accounts and PSPs and manage all their treasury operations such as revenue tracking, cash flow reconciliation and making payments via crypto and fiat transparently.

The round was led by Viola Ventures, Fabric Ventures and Mensch Capital Partners. More than 20 angels also participated in the round, including: Yuval Tal (Founder at Payoneer), Sebastien Borget (Co-founder of The Sandbox), Emmanuel Shalit (Founder at Dashlane), Benjamin Seror (CPO at SimilarWeb), Didier Valet (Former Deputy Managing Director at Société Générale), Guillaume Houzé (Galeries Lafayette)…

There are a growing number of businesses that run dual crypto/fiat treasuries simultaneously or would not integrate with crypto due to its complexity.

The idea of ​​dealing with two different financial systems; multiple accounts to track, volatility, compliance issues, and reconciliation issues.

Nilos was founded in 2021 by Raphael Fettaya and Eytan Messika and provides a platform that allows businesses to:

  • Connect all their accounts through a single interface

  • Track all their crypto and fiat transactions in a unified ledger

  • Reconcile their payments

  • Efficiently schedule and route crypto-to-fiat (off-ramp) payments

  • Extract detailed financial/accounting reports

Nilos also takes care of the AML/compliance behind:

In 3 months, the team has grown to 10 people spread over Israel and France and has worked with a number of NFT platforms, brands and agencies.

“I am delighted with our close collaboration with Nilos. I believe they are playing a key role in helping businesses adapt web3. Their product fits perfectly with our mission to help music rights owners get started. in the web3 world. Sebastien Ljunbergtechnical director at another block

“We are big proponents of Web3 infrastructure games. The Nilos team is solving a huge gap, bridging financial and treasury services for Web2 and Web3 businesses looking to integrate on-chain revenue with their fiat operations into one transparent, compliant and secure way.” Omry Ben Davidgeneral partner at Viola Ventures

“As a business, freelancer, or creator, once you’ve set up a wallet, it’s the easiest thing to accept payments using blockchain payment rails, but that’s all that comes after that is difficult.everything about managing income (cash), storing currencies safely, exchanging them for stable currencies, using the correct chain from acceptance to withdrawal, using the correct exchange for offramp and doing it in a legally compliant way with the right documentation is extremely difficult and a fragmented manual process right now. I’m really happy to partner with the guys at Nilos, to solve this missing key to the financial infrastructure that will make crypto more widely available.” Anil Hanjsee, General Partner at Fabric.vc

To know more : https://www.nilos.io/

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