Request Finance, a crypto payments startup, has raised $5.5 million in a seed round led by venture capital firm Balderton Capital and gaming firm Animoca Brands.
VC XAnge and angel investors, including Aave founder Stani Kulechov and Sebastian Borget, co-founder of The Sandbox, expressed interest in the venture, which streamlines and automates invoicing, costs, and payroll for both centralized and decentralized businesses.
Request Finance envisions itself as a “web3 Bill.com” — a crypto-native invoicing solution with on-chain payment confirmations and market-rate coin exchange rates, according to Founder and CEO Christophe Lassuyt.
Lassuyt declared: “Bill.com helps customers pay hundreds of invoices in one click and that’s what we do with Request Finance. You can pay 100 invoices in 50 different currencies to 20 different countries in one click.”
Since its start in January 2021, the company claims to have processed over $200 million in invoices. The Sandbox, Polygon, MakerDAO, and Near Protocol are among the company’s roughly 2000 clients, according to Lassuyt.
The company intends to expand its workforce and increase product promotion with the new cash. It aims to gain from the networking benefits of having fintech VCs like Balderton and crypto VCs like Animoca Brands on its cap table.