The business

Cauris is a private credit fund that partners with financial technology companies worldwide. Cauris’ mission is to drive financial inclusion. They ease financing to Fintechs working with small and medium businesses and consumers. To this end, Cauris facilitate access to credit for 100 million people through the provision of DeFi-enabled financing to its fintech partners. Cauris believes this is key to empowering individuals and enabling economic growth in emerging markets. Cauris currently provides financing in Nigeria, Ghana, Kenya, Uganda, Rwanda, India, and Mexico.

Let's showcase it with an example:

1. Cauris identifies great Fintechs in emerging markets who need capital to scale their operations (e.g., Asaak ) — if you're interested, click here.

2. They do due diligence on operations, performance, and loan portfolios. Then choose high-quality borrowers.

3. Next, Cauris uses pools where DeFi meets real world assets (e.g., Centrifuge, Goldfinch) to raise funds.

4. Cauris converts it to fiat (most fintechs they fund need USD) and lends it to the chosen companies.

5. Investors receive both a cash yield (generated by Cauris’s real-world lending) and a reward token (from the protocol)

That's the magic of Cauris. 🧙

The problem

Cauris' main problem is the lack of centralization of its crypto/fiat tools.

To better understand how complex it can become, let me quickly explain their setup:

1. For banking services, Cauris has accounts with multiple banks. Even though opening a bank account can take over three months — it has become a running joke at Cauris!

2. For crypto, Cauris handles multiple wallets — multi-signatures, hot and cold wallets. On many chains.

3. For liquidity providers, Cauris use several services — Decentralized exchanges (e.g., Uniswap) or centralized exchanges (Circle, Coinbase).

On top of that, Cauris runs multiple projects simultaneously. Meaning this already complex setup can go exponential.

Cauris started to get to a point where wallet management and bank management became an issue. Because they had to juggle between different accounts of different projects on multiple chains.
Accounting became a nightmare:

• crypto transactions (transfers, swaps) are extracted on blockchain scanners like Etherscan.

• liquidity events (buy/sell crypto) are extracted for centralized exchange accounts.

• fiat transactions are extracted from bank statements.

All these extracts should be reconciled into one unique spreadsheet. You can imagine the time and the energy to do that. Alexander Raia (Alec) lost too much time and serenity on this cumbersome process. And that's why he started looking for tools and found out about Multis!

Entering Multis

Alec created an account on Multis more than a year ago when Multis was in beta. He decided to join us to solve his biggest pain: having a shared space for a crypto wallet to access and control all funds and facilitate his accounting.

With Multis, Alec and the Cauris team can save time and get clarity and control over their crypto payments. With Multis, they can:

• Safely store all his crypto treasury in a non-custodial multisignature wallet

• Monitor payments in real-time with email notifications and team spending analytics

• Enrich transactions with tags and pdf invoices. Or enjoy reporting analytics like spending breakdowns

• Download a Quickbooks-ready CSV to simplify their accounting every year.

And the most significant benefits he had at the time? Focus. His core business is to support his borrowers and find best-in-class credit protocols to raise money. Multis allows him to find time to focus on his business, and that's our ultimate goal.
But our solution still lacked one big part to help him: the fiat part for reuniting all his operations.

The solution

When Multis launched the USD features (checking account & debit cards), Alec found Multis a potential ultimate solution. Moreover, he is always looking for a trustable banking partner. He knows how hard and painful it is to have a bank account for a web3 company. Multis is a crypto-native company, so he knew he could trust us.

As a result, Cauris's team can now visualize their assets off and on the chain for multiple entities in seconds. The biggest pain is washing away with Multis: accounting. Alec can save hours and save his mind by downloading a simple Quickbooks CSV ready for his accountant.

In bonus and a non-negligible one, Alec can move his financial operations to one place. It simplifies the heavy and expensive processes by cutting exchanges and bank accounts.

This full setup will save accounting and financial reporting hours. Especially with the power Multis gives to founders with automated categorization.

We like to think we're building a tool to help people who are building Open Finance, and Alec and his team are one of them! We're happy to help him get focused on his core business. 😀
Feel like giving it a try to our Multis USD feature? You can open an account in less than ten minutes here and join 200+ leading companies using our product!