- Nilos aims to reduce the complexity of managing cryptos for businesses by providing a platform where handling crypto is as simple as handling fiat.
- The service bridges the gap between fiat and crypto, providing a solution that unifies crypto wallets and fiat accounts offering special crypto/fiat capabilities such as: global treasury visibility, crypto to fiat payments and automatic reconciliation.
- This fundraise aims to fuel its customer acquisition in Europe, finance the R&D and build the sales/marketing team.
Tel Aviv & Paris — Nilos today announced a successful €5.2 million financing round to offer a first of its kind platform that unifies crypto and fiat treasuries for businesses. Nilos was founded in 2021 by Raphael Fettaya and Eytan Messika.The round was led by leading investors from fintech and crypto space including Viola Ventures, Fabric Ventures and Mensch Capital Partners.
Over 20 angels 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.
Nilos provides the one-stop-shop for businesses to connect crypto wallets, corporate bank accounts and/or payment service providers and centralize all their treasury operations, such as tracking incomes, reconcile money flows and payments across crypto and fiat seamlessly. There’s a growing number of businesses that handle dual crypto/fiat treasuries simultaneously or that won’t onboard crypto because of its complexity.
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.
Nilos provides a platform that allows businesses to:
- Connect all their accounts through one single interface
- Track all their crypto and fiat transactions in one unified ledger
- Reconcile their crypto and fiat payments
- Schedule, route and trigger effective crypto to fiat payouts
- Extract detailed reports for business or accounting purposes
Nilos also takes care of the AML/compliance that lies behind it:
- Monitor incoming crypto transactions to spot suspicious source of funds for AML requirements
- Provide custody services to store crypto accounts on behalf of third parties
In the last three months, the team has grown to 10 people based across Israel and France, and has already worked with clients in three different countries. Clients include AnotherBlock, Rocket3, Metafight, Rarecubes, and assisted brands like AMI Paris, Frederique Constant, Warner Music and many more.
“We believe that 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.”Eytan Messika, Co-Founder of Nilos
“I’m excited about our close collaboration with Nilos. I believe they play a key role in companies’ adaptation of web3. Their product is a perfect fit for our mission of helping owners of music rights take their first steps into the world of web3.” Sebastian Ljunberg, CTO of Anotherblock
“We are big believers in web3 infrastructure plays. The Nilos team 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.” Omry Ben David, General Partner at Viola Ventures
“As a business, freelancer or creator, once you have a wallet setup, it’s the easiest thing to accept payments using the blockchain payment rails, but it’s everything that comes afterwards that’s difficult. Anything to do with managing income (treasuries), storing currencies safely, exchanging these to stable currencies, using the right chain from acceptance to withdrawal, using the right exchange to offramp and doing this in a legally compliant manner with the right documentation is extremely difficult and a fragmented manual process right now. I’m really happy to be partnering with the guys at Nilos, to solve this key missing piece of financial infrastructure which will make crypto more widely accessible.” Anil Hanjsee, General Partner at Fabric.vc
Founded in 2021 by Raphael Fettaya and Eytan Messika, Nilos is the first financial platform that unifies crypto and fiat treasuries for businesses, allowing them to have a global view on all financial operations. The platform is meant for all web2 and web3 businesses that handle dual crypto/fiat treasuries simultaneously or that will not onboard to crypto because of its complexity. In 2022, Nilos raised €5.2 million led by leading investors Fabric.vc, Viola Ventures, Mensch Capital Partners and over 20 business angels. Nilos can already count on 10 dedicated team members in France and Israel.