Entendre Finance, a tech startup aiming to provide fully automated end-to-end accounting and bookkeeping solutions for Web3 businesses, has raised $4 million in a seed funding round to bring their vision to life.
Entendre Finance
Entendre Finance, established in 2023, offers a unique competitive advantage to businesses operating in the Web3 space. The startup accomplishes this by serving as a system of record for their on-chain activity and financial statements, thereby reducing their operational costs and human capital.
This allows companies to concentrate on building innovative Web3 solutions to promote the wider adoption of blockchain technology. With its headquarters based in NYC, Entendre boasts a team of experienced professionals from reputable companies like Coinbase, CloudKitchens, Hulu, Amazon, and WeWork.
The platform provides an automated double-entry accounting solution powered by AI that can record entries for any blockchain transaction. Entendre supports multiple blockchains, integrates with leading accounting platforms, and different Web3 applications. The customer base includes industry disruptors like Hedgey, Lava, Anima, and many more.
According to Entendre’s CEO and founder, Kareem Khattab, businesses need better systems and internal controls for the longevity of blockchain companies and adopters for the next 12-24 months. Entendre’s focus is onboarding as many businesses as possible to reduce their accounting costs as they continue to grow.
Entendre’s platform is ready for scale, easy to use, and customizable for any business looking to introduce blockchain transactions into their ecosystem. With Entendre’s automated end-to-end accounting and bookkeeping solutions, businesses can focus on innovation and leave the financial operations on autopilot.
Basis Set Ventures Leads Entendre Finance seed funding
Led by Basis Set Ventures and with participation from Valhalla, Caffeinated, Moonpay, Alumni, MDig and Alpine, Entendre aims to modernize finance teams by automating on-chain financial operations and reducing operational costs for businesses.
Lan Xuezhao, the General Partner at Basis Set Ventures, said that the startup brings much-needed transparency and accountability to the world of blockchain transactions.
Xuezhao further mentioned that Entendre’s solutions cater to businesses of all kinds, providing them with robust financial controls for on-chain activities.
“With the growing impact of Web3 use cases, Entendre’s work, led by Kareem Khattab and his team, puts them at the forefront of this critical evolution in the crypto landscape,” Lan added.
The endorsement from a leading venture capitalist like Xuezhao is a significant boost for Entendre Finance. It not only highlights the startup’s commitment to revolutionizing Web3 financial operations but also indicates the potential for the company to be a game-changer in the blockchain industry.
With Basis Set Ventures leading the investment round, Entendre is poised to make significant strides in the coming years, bringing automation and efficiency to accounting and bookkeeping for businesses operating in the blockchain space.
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