Multis raises $7M to help web3 businesses and DAOs get confidence and control over their crypto

Jan 17, 2023

I’m thrilled to announce that Sequoia Capital is leading a fundraise of $7M dollars, for Multis. If you were to tell me 2 years ago, when I was pitching Multis to valley investors by day and sleeping in a dodgy hotel in San Francisco’s Tenderloin district at night, that Multis would be backed by not only a legendary VC firm but also Long Journey Ventures, Sound Ventures, and UDHC, and inspiring angels like Paul Veradittakit, Ryan Selkis, and Diogo Monica, I wouldn’t have believed it. In 2019, I had to “build the case” for companies running their businesses on crypto. Today, crypto businesses are here and the real lack of tooling to support their needs is obvious to not only those who’ve been in the space for years, but also to new comers. We have always believed that web3 would unleash a wave of global entrepreneurship, and it’s so exciting seeing this happen in real time.

Making room for more crypto dreamers

Multis’ greatest asset is the team of professionals (or “crypto dreamers” as we like to call them) we’ve assembled. In 2021, we grew from a team of 4 to a team of 10. In 2022 we’ll be using the capital from the raise to recruit 15 more full time crypto dreamers across business, product, and engineering in Europe and the US. Growing our team will be instrumental for us as we meet market demand.

Speaking of demand, we see no signs of it slowing down. Within 2 weeks of taking our accounts out of beta we tripled our users and grew AUM exponentially. While we know that web3 is the future of entrepreneurship, we strive to earn trust in a trustless world, growing our team to ensure not only an excellent product but also white-glove service. 2022 is set to be an exciting year in web3 and one of great growth at Multis.

These are early days but I can tell you that working with Sequoia, and in particular Stephanie Zhan, has been invaluable for me as a leader. Our team is already feeling the effects of their expert guidance that has helped legendary companies like Stripe and our peers at FTX and Filecoin become leaders in their fields.

Of course, we could not have got where we are today without support from our users, our partners and our investors. Most of all, it’s thanks to the Multeam and their dedication, vision and amazing work that we got to where we are today. If you’d like to on this Zeppelin (inside joke, we’ll explain later) job openings are here. WAGMI ;-)

— Thibaut