Crypto.com Capital co-leads $5m round of Web3-focused finance firm

Headquarters, a Singapore-based blockchain firm, raised US$5 million in a pre-seed funding round led by Crypto.com Capital, Forge Ventures, and MassMutual Ventures.

Headquarters team / Photo credit: Headquarters

Founded earlier this year, Headquarters helps Web3 companies manage their financial operations and reporting. Users can plug their crypto wallets into the platform, execute bulk transactions, and categorize inbound and outbound transactions to make bookkeeping easier.

According to the company, financial operations for Web3 firms is challenging as teams usually have funds spread across several wallets.

“The principles of building good projects and businesses don’t change. A lot of the best practices in finance still apply and should be a foundation to be built upon by Web3 teams,” said Forge Ventures partner and co-founder Tiang Lim Foo.

Headquarters was established by Sharon Paul, former executive of payment gateway service Xfers (currently known as Fazz), as well as Sunny Singh, who previously worked as an engineer at lifestyle firm Traveloka.

Headquarters plans to use the fresh funding to accelerate product development, including bridging crypto wallets to accounting, invoicing, payroll, spend management, and fiat ramp tools.

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Other investors in the funding round include:

• Saison Capital
• Coinhako
• LongHash Ventures
• Ocular
• Sky9 Capital
• DWF Labs
• Gnosis Safe co-founder Lukas Schor
• Spenmo co-founder Mohandass Kalaichelvan
• Fazz co-founder Liu Tianwei
• Nansen CEO Alex Svanevik
• Race Capital general partner Chris McCann
• Etherscan founder Matthew Tan