Atikh Bana, Co-Founder and CEO of Acctual, Exclusively Tells TechCrunch About the Importance of Managing Digital Assets
[Acctual: A Revolution in Digital Payments]
At a high level, Acctual is simply a game-changer for crypto businesses— streamlining financial operations like never before. It’s about automating accounts payable and receivable processes with a focus on precision and efficiency.
The Fundraising Round
The company successfully raised $3.85 million in seed funding at a $15 million post-money valuation, marking significant progress for Acctual as it continues to scale its operations.
Key Investors
This round was co-led by Third Prime and IDEO, with notable participation from investors including Alchemy Ventures, OrangeDAO, Northrop Grumman Corporation, and others. These partnerships underscore Acctual’s potential to revolutionize the crypto ecosystem.
Background of the Company
Founded by Atikh Bana alongside fellow co-founders Rahul Pathak and Aditya Kishore, Acctual is poised to redefine how businesses handle their financial operations in the digital age. The company specializes in automating accounts payable and receivable processes, ensuring accuracy and reducing operational burdens.
Core Features
- ** seamless Integration:** Compatible with existing accounting software like QuickBooks and Xero.
- Zero Error Margin: Eliminates manual data entry errors common in traditional systems.
- Cloud-Based Accessibility: Users can access Acctual from anywhere, at any time.
Market Positioning
Acctual stands out against competitors such as Coinbase Pay and Revolve, which offer similar services but with different focuses. While these platforms cater to individual users, Acctual aims to empower businesses by streamlining financial operations for teams of all sizes.
Long-Term Vision
Atikh Bana envisions Acctual becoming a go-to tool for crypto startups worldwide, enabling them to focus on growth and innovation without being bogged down by manual data entry. "Our goal is to make digital payments as intuitive as traditional banking," he says.
Key Success Metrics
- First Month Revenue: $250,000
- Active Users: 1,500 within the first three months of launch.
- Monthly Active Businesses: 300, with a goal to reach 6,000 by year-end.
Press Coverage and Recognition
Acctual has garnered attention from TechCrunch, Decrypt, and other tech publications for its innovative approach. The company has also been shortlisted in the FinTech category at industry events, further cementing its reputation as a leader in digital payments.
Conclusion
With this seed funding round, Acctual is well-positioned to scale its operations and expand its global reach. The company’s mission to simplify financial management for businesses aligns with current market trends and customer demands, making it a promising investment opportunity.
