Bitwave raises $15 million Series A to expand its crypto accounting software
Summary
The crypto accounting and compliance platform Bitwave today announced that it has closed a $15 million Series A led by Hack VC and Blockchain Capital, with participation from other funds including SignalFire. The funding round comes amid an industry-wide discussion over transparency, with many calling for companies to release proof of reserves, liabilities, and undergo complete third-party audits, which are all processes that Bitwave helps to facilitate. Kalnoki said this reflects a trend that Bitwave is seeing, with increased enterprise adoption of crypto and digital assets, even as volatility persists for retail investors. Ed Roman, a managing director at Hack VC, said his firm is a client of Bitwave as well as an investor, which is one of the reasons it decided to lead the round. Spencer Bogart, a general partner at Blockchain Capital, predicted there will be 100 times more enterprises in crypto five years from now, with all of them needing a product like Bitwave to be able to operate.
Funding
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