CoinShift onboards investors in latest funding to bring its proprietary treasury management platform further.
CoinShift, previously known as MultiSafe, has raised $2.5M in Seed funding to develop their Crypto Treasury Management platform and build a shared data infrastructure on IPFS & Filecoin.
The seed funding saw venture capital firms such as Sequoia Capital India, Ethereal Ventures, Longhash Ventures, Fintech Collective, Defi Alliance, and Volt Capital come together along with angel investors of popular crypto projects like Polygon co-founder Sandeep Nailwal and Balancer Labs co-founder Fernando Martinelli.
“Our mission is to build the most sophisticated crypto treasury management platform for companies and DAOs. While we have started out with payouts to help crypto teams manage payroll, grants etc., we want to scale to solve for the three pillars of a treasury management solution – cash management, financing and risk management. The current round of funding will help us in expanding our stellar technical and non-technical team while further developing our product suite,” says CoinShift founder and CEO Tarun Gupta.
Conceived as a way to simplify crypto treasury management, CoinShift was built on top of the Gnosis protocol which uses Batch Auctions as its price finding mechanism. With the platform, crypto companies and Decentralised Autonomous Organisations (DAOs) can use multi-signature wallets, define salaries for each individual employee, execute one-click mass pay-outs, and get accounting insights with industry-standard tools like QuickBooks and Xero.
With the latest investment funding, CoinShift aims to address aspects of a treasury management solution, and are looking to launch an asset management product with a built-in risk assessment framework in the coming months.