What is real-time finance, and why does it matter now?
Real-time bookkeeping, accounting, and treasury management allow teams to make better, faster decisions.
Most businesses get financial insights 2-4 weeks after a month’s or quarter’s end - which is adequate in traditional markets where currencies are relatively stable and liquidity risk is nominal. But, web3 businesses don’t have this luxury. A 2-week delay in actionable insights can be catastrophic - especially if your competitors have access to fresh, day-of financial data.
At Integral, we believe that 1) real-time accounting, treasury management, and financial analysis will soon be the norm, and 2) web3 teams will lead the charge.
Web3 is the perfect place to start
We chose to build a real-time finance tool for web3 teams first for 3 reasons:
1) Real-time finance is essential for web3 companies
In web2, insights come 7-30 days AFTER the month-end. In web3, 30 days could be the difference between owning $10M of ETH and $5M of ETH.
2) Real-time (RT) finance is an edge for web3 and web2 organizations
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RT P&L = faster, better decisions
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RT balance sheet = better use of treasury
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RT cashflows = happier collaborators
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RT audits = more trust -> leads to more customers
All of which compound quickly.
3) Crypto is the fastest growing non-cash payment method in the US (10yr CAGR)
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Crypto: 63% (globally)
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Credit/debit cards: 7.8%
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ACH: 7.2%
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Wires: 2.5%
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Cheques: -4%
Additionally, cryptocurrencies have amazing properties like near-instant settlement and programmability. The Integral team believes that the web3 values of transparency, financial independence, and permissionless access to financial services are beneficial for the world.
Announcing Integral V1
Integral is a real-time finance platform that automates web3 financial workflows.
Integral connects to all of your organization's wallets, safes, exchanges, and custodians and delivers enriched financial data in real time in a collaborative, beautifully designed interface.
Our v1 provides web3 teams with 3 key features:
1. Real-time P&L with automated bookkeeping and gain/loss calculations
2. Real-time treasury overview
3. World-class record keeping and APIs
Integral V1 supports multiple data entry points:
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Wallets: Metamask, Phantom, Ledger, and many more
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Exchanges: Coinbase, FTX, Gemini, Binance, and many more
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Custodians: Anchorage, Fireblocks, and Qredo
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On-chain safes: Gnosis and Squads
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Chains: Ethereum L1, EVM L2s, and Solana, with more chains coming live soon
Teams that use ERPs like Quickbooks, Xero, and Netsuite can also import their reconciled crypto transactions from Integral.
Integral raises $8.5M to bring real-time finance to web3 teams
With this funding, we're excited to partner with @ElectricCapital, as well as incredibly talented investors including @eladgil, @balajis, @HustleFundVC, @mantisVC, and @MapleVCFund.
We're thrilled to partner with top-notch web3 operators including @diogomonica from Anchorage, @roham from Dapper Labs, @jillrgunter from EspressoSys, @Obstropolos from SpruceID, @Nikgopalani from RTFKT, George Zeng from dYdX, @MitchellAmador from ImmuneFi, Sima Gandhi from Creative Juice, @DCoolican, @Brandon_M_Kumar from Layer3, and more.
This funding helps us pursue two goals:
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Accelerate the development and adoption of web3 technologies and values;
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Build world-class financial tools that give operators an edge in decision-making.
Getting Integral V1
If you run a web3 co, DAO, or web2 co with crypto ambitions, Integral is granting early access passes to teams with over $10M in treasury (fiat or crypto).
DM @integral_xyz_ for early access or visit www.integral.xyz to learn more ✧