Crypto.com invests in web3 back-office platform Headquarters’ $5 million raise
Summary
Web3 back-office platform Headquarters has closed a $5 million round co-led by Crypto.com Capital, Forge Ventures and MassMutual Ventures.The pre-seed raise also includes backing from Saison Capital, 500 Startups and Longhash Ventures as well as prominent angel investors such as Nansen CEO Alex Svanevik, Race Capitals Chris McCann and Etherscan founder Matthew Tan, according to a release today.Headquarters draws on the perspectives of angel investors and web3 funds who see a need for companies to better manage their working capital across custodial and non-custodial wallets, per the release. Headquarters aims to solve this problem and reduce human error in web3 bookkeeping. Its starting with the launch of HQ Teams, a tool for web3 firms to manage their financial operations.We built HQ Teams to make finance best practices less exhausting by taking out the tedious manual work, Sharon Paul, Headquarters co-founder and CEO, said in the release. "Say goodbye to the arduous task of manually transferring tokens and making payments. "Before founding Headquarters, Paul was head of payments at Fazz.com, while her co-founder and chief technology officer Sunny Singh has led engineering teams at companies such as Traveloka and Grasshopper.HQs founding teams experience in traditional finance and web3 provides them with a deep understanding of the operational pain points the industry most needs to solve, said Carlos Jo-Loo, principal at Mass Mutual Ventures, in the release.