We are thrilled to announce the successful completion of our venture round funding to accelerate market expansion of Cryptoworth’s enterprise digital asset accounting solution.
The strategic investment round was led by CMT Digital and supported by Kyber Ventures, Saison Capital, ODA Capital, and Polygon Ventures in spite of a market slow down of overall web3 VC funding.
Launched in 2019, Cryptoworth’s core product has transformed how professionals in web3 finance handle digital on-chain data for purposes of accounting, AR/AP and corporate level financial reporting. Cryptoworth created a new standard in the industry for robust crypto reporting that is compliant with both IFRS and US GAAP standards.
Trusted by web3 top companies and protocols digital asset management.
Today, over 100 of the most renowned blockchain companies worldwide rely on Cryptoworth’s offering including Axie Infinity, Solana Foundation, Celo Foundation, Avara Labs (Aave), Kava Labs, Big Brain Holdings, and The Moonbeam Foundation for their web3 corporate financial compliance and audit-readiness.
With higher reporting standards and audits being increasingly commonplace for web3 companies, the industry as a whole is well due for an equally high standard solution for crypto accounting. Cryptoworth, a SOC 2 Type 2 certified solution provider, is set to become the gold standard tool of web3 finance while creating a new category for all digital assets financial operations-related tools behind one system.
Cryptoworth is disrupting an area in which the industry is in desperate need of automation, moving from manual spreadsheets to a streamlined solution.
We’re thrilled to lead this funding round for Cryptoworth. Our investment underscores our confidence in the company’s potential to revolutionize crypto accounting and facilitate mainstream blockchain adoption by both web2 and web3 companies. Cryptoworth fills a major gap in crypto accounting by simplifying the intricate task of translating crypto transactions into comprehensive accounting and financial reports that seamlessly integrate with mainstream accounting platforms. The platform’s extensive coverage with over 1000+ integrations across various blockchains, exchanges, DeFi protocols, and conventional accounting systems and ERPs, showcases its robust capability.Joseph Lassen, Investment Partner CMT Digital.
In 2023 alone, Cryptoworth’s impact on the digital asset market speaks volumes: over $10 billion in reported volume, an impressive billion-plus transactions, and more than 10,000 meticulously crafted reports generated. These numbers underscore our commitment to revolutionizing crypto accounting with precision and scale.
We are excited to have completed this strategic funding round, which will enable us to further our mission of streamlining how people work in web3 finance.Jay Geeth, Founder and CEO of Cryptoworth.
Cryptoworth allows you to connect in seconds all your web3 digital asset data from +1000 integration of wallets, exchanges and NFT marketplaces. Cryptoworth’s automation streamlines reconciliation of all your cryptocurrency data into the most popular SMB and Enterprise accounting software like Quickbooks, Xero, Netsuite, SAP.