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 centralise all their treasury operations, such as tracking incomes, reconcile money flows and payments across crypto and fiat seamlessly.
Nilos’s platform allows businesses to connect all their accounts through one single interface and track all their crypto and fiat transactions in one unified ledger. Through the platform, users can reconcile their crypto and fiat payments, schedule, route, and trigger fiat payouts, while also extracting reports for business or accounting purposes.
Nilos also takes care of the AML/compliance that lies behind it by monitoring incoming crypto transactions to spot suspicious source of funds for AML requirements and by providing custody services to store crypto accounts on behalf of third parties
According to Nilos data, there’s a growing number of businesses that handle dual crypto/fiat treasuries simultaneously or that would not onboard crypto because of its complexity.
Some drawbacks in achieving this are the facts that there multiple accounts to track, volatility of a new currency, compliance issues, and reconciliation problems.
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