Crypto Payment Startup Request Finance Lands $5.5M in Seed Round

Request Finance, the Web3 enterprise crypto-payments startup, has closed a $5.5-million seed round with institutional backers, including Animoca Brands, Balderton Capital and XAnge.

The seed round also attracted a star-studded lineup of Web3 founders, including The Sandbox co-founder and chief operating officer Sebastien Borget, Fantom CEO Michael Kong, Aave founder and CEO Stani Kulechov and StakeDAO founder Julien Bouteloup.

The fresh round of capital will help the company expand its in-app services and grow its team to capture a greater share of the growing crypto-payments space. According to a report from blockchain data platform Chainalysis, the global volume of cryptocurrency transactions grew to $15.8 trillion in 2021 — 567% from 2020.

Yat Siu, executive chairman and co-founder of Animoca Brands, said: "The services provided by Request Finance allow Web3 projects — including some Animoca Brands companies — to save time and effort on crypto payments. We believe the company has a significant potential for growth and expansion."