Entendre Finance announced it has raised $4 million in seed financing to launch the first fully automated end-to-end accounting and bookkeeping solution for businesses operating in Web3. Led by Basis Set and with participation from Valhalla, Caffeinated, Moonpay, Alumni, MDig, and Alpine, Entendre built a platform that modern finance teams can use to put blockchain financial operations on autopilot.
Businesses will need proper financial controls for on-chain activities due to all of the recent stories clouding the crypto sector. And Entendre’s mission is to accelerate Web3 by automating on-chain financial operations and reducing operational costs so businesses can focus on innovation. Plus the platform is ready for scale, easy to use, and customizable for any business looking to introduce blockchain transactions into their ecosystem.
Entendre essentially offers an automated double-entry accounting solution powered by AI that can record entries for any blockchain transaction. And the platform supports multiple blockchains and integrates with leading accounting platforms and different Web3 applications. The company’s customer base includes industry disruptors like Hedgey, Lava, Anima, and more.
KEY QUOTES:
“The next 12-24 months will be critical for the longevity of blockchain companies and adopters. They must implement better systems and internal controls. Our focus is on onboarding as many businesses as possible, so that their accounting costs are inverse with their continued growth.”
— CEO and founder of Entendre Kareem Khattab
“We at Basis Set Ventures are delighted to lead the investment round for Entendre, a company that brings much-needed transparency and accountability to the world of blockchain transactions. Their comprehensive solutions cater to businesses of all kinds, ensuring robust financial controls for on-chain activities. As we prepare for the growing impact of Web3 use cases, Entendre’s work, led by Kareem and his team, positions them at the forefront of this critical evolution in the crypto landscape.”
— General Partner at Basis Set Lan Xuezhao
