Integral Raises $8.5M to Create Real-Time Web3 Accounting Tools for Enterprises

Quick take:

  • Former Coinbase CTO Balaji Srinivasan and Dapper Labs founder Roham Gharegozlou invested in the round.
  • In the past 5 months, the platform has helped companies process $5 billion in crypto accounting transactions.
  • Integral’s founder, Gui Laliberte, was most recently an entrepreneur-in-residence at Electric Capital.

Integral, a real-time accounting platform for Web3 businesses, has closed an $8.5 million funding round led by Electric Capital. Notable investors include former Coinbase CTO Balaji Srinivasan, Color Genomics co-founder Elad Gil, Hustle Fund, Mantis, Maple VC, Anchorage founder Diogo Monica, Dapper Labs founder Roham Gharegozlou, and more .

Integral provides real-time financial data to Web3 teams and allows them to automate their accounting. The platform deploys real-time profit and loss statements for crypto accounting transactions, syncs transactions and balances with your accounting software of choice, and automatically calculates gains and losses on tokens and instruments, among other features.

In the past 5 months alone, the platform has helped companies process $5 billion in crypto accounting transactions for Web3 businesses. The platform supports multiple data entry points such as wallets, exchanges, custodians, on-chain vaults, and Ethereum L1, EVM L2, and Solana chains, with more to be added soon.

“Real-time finance is essential for web3 companies. In Web2, information arrives 7-30 days after the end of the month. In web3, 30 days could be the difference between owning $10 million and $5 million in crypto assets,” said Gui Laliberte, founder of Integral.

Laliberte previously founded and sold Setter, a Sequoia-backed homeownership platform, and was most recently an entrepreneur-in-residence at Electric Capital. The Integral team is made up of former security and data managers from Palantir, Paypal, Amazon, Meta and VMWare.

Integral currently offers Early Access Passes to Web3 businesses, DAOs, and Web2 businesses with crypto ambitions and crypto treasuries over $10 million.

The news came shortly after Israel-based accounting data aggregator Tres announced the close of its $7.6 million funding round on Tuesday. Following this, another Israel-based Web3 accounting startup, Nilos, also announced its $5.2 million seed funding today.

Another Web3 financial management platform, Siege (HQ), also announced today that it has raised $5 million in a pre-seed round led by Capital. The financial management platform is developing a back-office service that will help web3 teams better manage their financial operations across custodian and non-custodial wallets.

With four Web3 accounting services firms announcing their fundraising rounds within a day of each other to address similar accounting challenges faced by Web3 businesses, crypto accounting infrastructure may soon become a niche in the market.

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