Request Finance is an enterprise crypto payment app founded by YCombinator alumni. Since its launch in 2021, it has helped automate and simplify business payments, financial reporting, and compliance for businesses using crypto.

In its November monthly report, it revealed that more than $263 million in crypto bills, payroll, expenses, and more have been paid through the app by more than 2,300 Web3 teams including The Sandbox, Aave, and Decentraland.

In June, Request Finance successfully raised a seed round of $5.5 million from backers including Animoca Brands, Balderton Capital, and XAnge, as well as prominent Web3 founders from Aave, MakerDAO, and The Sandbox.

Launch of the “Definitive Guide for Web3 CFOs”

The team also announced the launch of its Web3 CFO Guide, a practical, everyday resource drawn from the experiences and insights of more than 250 financial and trading leaders at cryptocurrency companies, including Chainlink, Ledger and Superfluid.

Christophe Lassuyt, CEO and co-founder of Request Finance, said:

“We wanted to find out what their biggest challenges were when they started their new role, what they learned, what they could do differently next time, and what they wish they had known.”

Challenges Facing Web3 CFOs Today

Many Web3 CFOs came with prior experience in a finance role, with 63% citing gaps in their knowledge of cryptography, decentralized finance (DeFi), or other blockchain technologies as one of the biggest drawbacks when they started.

In addition to the challenges of having to get up to speed with cryptocurrency, DeFi, and other blockchain technologies, more than 99% of CFOs in Web3 organizations said they had no formal onboarding processes when they started their roles.

Bluejay Finance COO Jeff Ye Myat commented:

“Traditional accountants have a hard time understanding concepts in crypto such as AMM token swapping. Most don’t even understand Etherscan.”

Despite the challenges facing Web3 CFOs, many were optimistic about the growing need for more financial professionals in the blockchain space. 76% of Web3 CFOs estimate that the demand for finance, accounting, tax and audit professionals will grow in the next 12-24 months.

The Definitive Guide for Web3 CFOs

Web3 organizations deserve and need better software tools to help finance and operations teams manage their daily financial workflows. Automation of repetitive processes like payments and integrations with other applications on both Web2 and Web3 are key to simplifying FinOps for Web3 teams.

The field guide covers the analysis of more than 150 new tools developed for the Web3 financial stack:

• Crypto wallets and custody solutions.
• Trust banking strategies.
• Entry/exit ramp options.
• crypto payments.
• Treasury administration.
• Financial reports in cryptography.

It’s packed with actionable tools, illustrative case studies, and frameworks that are easily accessible to busy professionals. The Web3 CFO Guide contains practical resources to help CFOs excel in key areas of FinOps in crypto.

Get your free copy of the Web3 CFO Guide here.

About Applying for Financing

Request Finance is an enterprise crypto payment app founded by YCombinator alumni. Since its launch in 2021, it has helped automate and simplify business payments, financial reporting, and compliance for businesses using crypto.

Over $263 million in crypto bills, payroll, expenses and more have been paid through the app by over 2,300 Web3 teams like The Sandbox, Aave and Decentraland.

In June 2022, Request Finance successfully raised a seed round of $5.5 million from backers including Animoca Brands, Balderton Capital, and XAnge, as well as prominent Web3 founders from Aave, MakerDAO, and The Sandbox.

To learn more about Request, visit Request.Finance.