Bitwave is an enterprise-focused digital asset finance platform that manages the intersection of cryptocurrency tax, accounting, and compliance for businesses operating with digital assets. Its flagship enterprise product provides accounting, tax, bookkeeping, invoicing, AR/AP, bill pay, and treasury management for companies holding crypto, DeFi positions, and NFTs. The company says it serves leading digital asset native and Fortune 500 customers such as OpenSea, Compound, and Polygon. The new $15 million Series A will support the launch of Bitwave Institutional, a set of processes, controls, and technology aimed at custodians, exchanges, financial institutions, wealth managers, and other organizations that custody and trade digital assets. Bitwave Institutional adds features to the flagship product including segregated balance-sheet tracking, internal and external system reconciliations, and proof of liability and reserve publishing. Additional financial terms of the transaction were not disclosed. Bitwave provides a software platform built for businesses to bring digital assets onto their balance sheet and into business processes. The platform offers tax tracking, bookkeeping, DeFi monitoring, and cryptocurrency accounts receivable/accounts payable tools. Bitwave integrates with exchanges such as Coinbase and Kraken, DeFi protocols like Uniswap and Sushi, leading blockchains, and accounting platforms including QuickBooks, Xero, Sage Intacct, and NetSuite. Its software is currently used by more than 30 enterprises, with over $10 billion of assets monitored through the system. The company intends to use the funds to expand its software capabilities and grow its client base. Bitwave was founded in 2018 by Pat White and Amy Kalnoki and is based in San Francisco, CA.

Total raised

$22M

Funding rounds

2

Latest round

Series A

Latest activity

Dec 2022