— Eytan Messika, co-founder of Nilos
TEL AVIV, ISRAEL, Sept. 21, 2022 /EINPresswire.com/ — • Nilos aims to reduce the complexity of managing crypto for businesses by providing a platform where handling crypto is as easy as it gets Handling Fiat.
• Bridging the gap between fiat and crypto, the service provides a solution that unifies crypto wallets and fiat accounts and offers dedicated crypto/fiat features such as:
• This fundraiser aims to advance customer acquisition in Europe, fund R&D and build the sales/marketing team.
Nilos today announced a successful €5.2 million funding round to offer a unique platform combining crypto and fiat treasuries for businesses. Nilos was founded in 2021 by Raphael Fettaya and Eytan Messika.
The round was led by leading fintech and crypto investors including Viola Ventures, Fabric Ventures and Mensch Capital Partners. Over 20 angels from the tech and business sectors also attended 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 (former Deputy CEO of Société Générale), Guillaume Houzé (Galeries Lafayette), Phillipe Suchet, Valentine Baudoin and Gmoney.
Nilos provides the one-stop shop for businesses to connect crypto wallets, corporate bank accounts and/or payment processors and centralize all their treasury operations such as: For example, tracking earnings, reconciling cash flows, and payments across crypto and fiat seamlessly.
There is a growing number of companies that are dealing with dual crypto/fiat treasuries at the same time or that are not on board crypto due to its complexity.
What is blocking them? The idea of dealing with two different financial systems; multiple accounts to track, volatility of a new currency, compliance issues and reconciliation issues.
Nilos provides a platform that enables companies to:
1. Connect all your accounts through a single interface
2. Track all your crypto and fiat transactions in one unified ledger
3. Match your crypto and fiat payments
4. Plan, route and trigger effective crypto-to-fiat payouts
5. Extract detailed reports for business or accounting purposes
Nilos also takes care of the AML/Compliance behind it:
6. Monitor incoming crypto transactions to detect suspicious sources of funds for AML requests
7. Provision of custodial services for storing crypto accounts on behalf of third parties
In the last three months the team has grown to 10 employees in Israel and France and has already worked with customers in three different countries. Clients include AnotherBlock, Rocket3, Metafight, Rarecubes and supported brands like AMI Paris, Frederique Constant, Warner Music and many more.
Eytan Messika, co-founder of Nilos: “We believe that crypto can disrupt businesses in many ways, from cross-border payments to new opportunities like NFTs… But today, every step along the way is a painful process. We aim to become the global standard for managing their crypto finances by abstracting away its complexity and making it as easy as managing fiat.”
“I am pleased about our close cooperation with Nilos. I believe they play a key role in corporate adoption of web3. Your product fits perfectly with our mission to help music rights holders take their first steps into the world of web3.” Sebastian Ljunberg, CTO of Anotherblock.
“We strongly believe in web3 infrastructure games. The Nilos team is bridging a huge gap by bridging finance and treasury services for web2 and web3 companies looking to seamlessly, compliantly and securely embed on-chain revenue into their fiat operations.” Omry Ben David, General partner at Viola Ventures.
“As a business, freelancer, or creator, the easiest way to accept payments through the blockchain payment lanes is once you set up a wallet, but anything after that is difficult. Everything to do with managing income (treasuries), keeping currencies safe, converting them into stable currencies, using the right chain from acceptance to payout, using the right exchange and doing it legally with the right documentation doing is extremely difficult and currently a fragmented manual process. I am very excited to be working with the guys at Nilos to solve this important missing piece of financial infrastructure that will make crypto more widely accessible.” Anil Hanjsee, General Partner at Fabric Ventures.
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