Website3 tax products and services business Tres Finance raises $11 million in Series A financing

Tres Finance, a crypto taxation startup, lifted $11 million in a Collection A funding spherical. 

Faction Ventures led the financing spherical that observed further participation from New Form, Boldstart Ventures, Cyber Fund and Ambush Cash. The increase brings Tres’s full funding to $18.6 million.

Tres delivers accounting, auditing, reporting and other economic products and services for world wide web3 corporations. The startup intends to use the funding to advance its development, with the intention of expanding its client base in the US, EU and APAC and scaling its shopper foundation by 300% in the 12 months. 

“This up coming bull cycle will have something that no other bull cycle in advance of it experienced — dozens of stay blockchain networks, countless numbers of decentralized apps, struggle tested infrastructure, and the adoption by main banking institutions and government corporations all-around the planet. The amount of corporations that will hold crypto on its harmony sheets is about to explode, and we are below to provide them — no matter how elaborate the transactions are,” Tres co-founder and CEO Tal Zackon explained to The Block.

“Now, rather than making use of spreadsheets to keep track of positions throughout DeFi activity, Tres’s Economic Facts Lake allows significantly much more advanced possibility modeling and assessment for crypto exchanges, DAO treasuries and resources.”

Tres supports around 100 Layer 1 and Layer 2 blockchains including Bitcoin, Ethereum, Solana, Avalanche, and it aims to increase additional supported blockchains in the future.

Earlier funding

The business lifted $7.6 million in seed funding in September 2022 led by Boldstart Ventures and Alchemy Ventures, The Block earlier documented. Further individuals at the time incorporated F2, New Variety, Kenetic Cash, Blockdaemon Ventures and Mantis.

(Corrects to distinguish Faction Ventures as its individual entity.)

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