Tactic raises $11m to support web3 in finance

Tactic raises $11m to support web3 in finance

Tactic has raised $11m in funding as it continues its mission to simplify financial operations for businesses in web3.

The investment was led by FTX Ventures head of product Ramnik Arora. Participation also came from Lux Capital, Coinbase Ventures, and returning investors Founders Fund, Ramp, Dylan Field and Elad Gil.

Tatic claims the funds will position it to help enterprises navigate the evolving regulatory landscape when it comes to financial compliance.

The FinTech company claims to save businesses time by seamlessly integrating with the rest of the accounting stack.

Its platform unifies crypto financial activity across wallets and exchanges to work with traditional accounting software like QuickBooks.

In a blog post announcing the funding round, it said, “Over the past several months, we’ve seen a broad spectrum of web3 adoption. Not only are new teams entering the space, more and more traditional enterprises are moving into crypto.

“We’re also seeing increased regulatory scrutiny and consequently, disquiet among the crypto community. Now more than ever, web3 businesses need the right tools to be audit ready.”

There have been several FinTech companies focused on web3 to raise funds in the past few months. In April, Cogni, a digital banking platform aimed at enhancing consumer lifestyles, raised $23m in Series A funding.

The FinTech company is on a mission to bridge the gap between Web2 and Web3 capabilities for an “optimal modern customer experience.”

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