Nilos nets $5.2 million to build platform that unifies crypto and fiat treasuries for businesses

By September 21, 2022The Sandbox
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Nilos nets $5.2 million to build platform that unifies crypto and fiat treasuries for businesses

There’s a growing number of businesses that handle dual crypto/fiat treasuries simultaneously or that would not onboard crypto because of its complexity. So what’s blocking them? The idea of dealing with two different financial systems; multiple accounts to track, volatility of a new currency, compliance issues, and reconciliation problems.

Addressing these concerns, France and Israel-based startup Nilos has raised $5.2 million in a funding round to offer a platform that unifies crypto and fiat treasuries for businesses. The fund raise aims to fuel its customer acquisition in Europe and build the sales and marketing teams.

The investment was led by leading investors from fintech and crypto space including Viola Ventures, Fabric Ventures and Mensch Capital Partners. Over 20 angel investors from the tech and business sector 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), Phillipe Suchet, Valentine Baudoin, and Gmoney.

Founded in 2021 by Raphael Fettaya and Eytan Messika, Nilos provides a one-stop shop for businesses to connect crypto wallets, corporate bank accounts and/or payment service providers and centralise all their treasury operations, such as tracking incomes, reconcile money flows and payments across crypto and fiat seamlessly.

Eytan Messika, co-founder of Nilos said: “Crypto can disrupt businesses in many ways, starting from cross-border payments to new opportunities such as NFTs... But today, every step of the way is a painful process. We want to become the world’s standard for managing its crypto finances by abstracting its complexity and making it as simple as managing fiat.”

“We are big believers in web3 infrastructure plays. Nilos 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,” added Omry Ben David, general partner at Viola Ventures.

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