New tools for a new internet
- More Web3 companies are being built as we move towards a decentralized version of the Internet, and these companies face new, unique challenges that existing Web2 solutions do not serve.
- One of them is managing their financial operations and reporting. Web3 companies typically have their funds spread across several wallets, accounts, exchanges, and custodians, posing unprecedented hurdles such as fragmented working capital, which increases the likelihood of human error.
- 500-backed Web3 back-office platform Headquarters was established earlier this year to help automate Web3 finances, and the team raised US$5M in a round co-led by Crypto.com Capital, Forge Ventures, and MassMutual Ventures.
- Headquarters is launching HQ Teams, a financial operations tool tailored for Web3 companies to give Web3 teams better visibility and control over their internal finances. Users can plug their crypto wallets into the platform, execute bulk transactions, and categorize inbound and outbound transactions to make bookkeeping easier.
- “We built HQ Teams to make finance best practices less exhausting by taking out the tedious manual work,” said Co-founder & CEO Sharon Paul. “Getting this right means teams can finally expect the same operational excellence for their internal financial workflows as they do with everything else in the sector.”
- The new funds will be used to accelerate the product development of HQ Teams, including bridging crypto wallets to more accounting, invoicing, payroll, spend management and fiat ramp tools.
- Congratulations to the Headquarters team, and welcome to the #500Strong community!
- Read the full story here.
Connecting Web3 with the real world
- Say ‘Hi’ to the next Web3 company joining the #500Strong community SerMorpheus, an Indonesia-based Web3 brand-retailer enabler that’s creating a frictionless Web3 experience for brands and creators, and enabling them to have higher engagement with their end-users through NFTs.
- The team raised US$2.5M in a seed round led by Intudo Ventures. With the fresh funds, they will focus on building infrastructure to bridge the gap between Web3 and Indonesian brands and consumers, and recruiting top talent across all functions.
- SerMorpheus is doing this by developing creator tools, including a simple drag-and-drop NFT builder, which allows users to mint and release non-fungible tokens (NFTs) quickly with zero technical knowledge required. The team will also provide analytical tools to help creators track their collection and user base.
- The ultimate goal? To onboard brands and retailers into the new digital economy. SerMorpheus’ tools empower brands and creators to develop NFTs and manage utilities that allow them to engage directly with customers and communities, unlocking brand value through ultra-personalized shopping experiences.
- “Web3 has gained significant traction in Indonesia, where community and consumer products consistently outperform other market segments,” said Co-founder Kenneth Tali. “We are excited to bring NFTs to Indonesia’s mass market as a gateway to the greater world of Web3.”
- And it doesn’t stop online. SerMorpheus will enable one to seamlessly claim/mint branded NFTs in real life at offline activities such as concerts, movies, and branded events.
- The team has already been entrusted to develop and distribute customized NFTs for brands and personalities such as Indonesia Comic Con, professional football club PERSITA Tangerang, the Jogjarockarta music festival, Indonesian actress and singer Prilly Latuconsina, as well as Visinema Pictures-produced film Mencuri Raden Saleh, among others.
- “Web3 represents the latest iteration of what the internet promised to deliver — a world where each of us can co-create and co-own. However, only an estimated 400 million people are crypto users in a world of 5 billion internet users, with billions more coming online in the next few years,” said Khailee Ng, Managing Partner of 500 Global. “As SerMorpheus serves Indonesia, what they build is also key for a truly inclusive internet, beyond Indonesia.”
- Congratulations to the SerMorpheus team!
- Read the full story on TechNode Global.