Coinbase and Y Combinator-backed startup Multis raises $2.2 million in seed round

Business banking startup Multis has raised $2.2 million in its seed round with investors including White Star Capital, Y Combinator and Coinbase Ventures. 

The French company confirmed the news in a tweet on Tuesday. The startup aims to create business accounts that will allow users to store, transfer and receive cryptocurrencies. 

According to a blog post by the company earlier this month, Multis banking accounts are being built on the Ethereum blockchain and are non-custodial, meaning users can access their funds at any point.

Multis representatives said the startup will use the funding to "bridge crypto with USD & EUR to build the future of business banking," by integrating traditional currency features onto the platform.