The Headquarters team
Headquarters (HQ.xyz), a Singaporean startup providing a dashboard for Web3 teams to manage their financial operations and reporting, has secured US$5M in a pre-seed investment round.
Crypto.com Capital, Forge Ventures and MassMutual Ventures co-led the strategic round, with participation from Saison Capital, Coinhako, Longhash Ventures, Ocular, Sky9 Capital and DWF Labs.
Angel investors, such as Gnosis Safe’s Co-Founder Lukas Schor, Spenmo Co-Founder Mohandass Kalaichelvan, Fazz’s Co-Founder Liu Tianwei, and Web3 industry veterans, including Nansen’s CEO Alex Svanevik, Race Capital’s Chris McCann and Etherscan’s Founder Matthew Tan, also co-invested.
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Headquarters will use the capital to accelerate its finance dashboard, called HQ teams. This includes bridging wallets with traditional FinOps tools spanning from accounting, invoicing, payroll, spend management and fiat ramps.
The rapid growth of Web3 companies and DAOs (decentralised autonomous organisations) are challenging the status quo of business operations, yet existing FinOps tools have not adapted.
FinOps in Web3 has specific hurdles, such as fragmented working capital, as teams commonly have finances spread across wallets that are both custodial and non-custodial. This makes Web3 bookkeeping subject to human error as managing payables and receivables typically involves spreadsheets and a highly manual process of copying and pasting transactions.
Headquarters aims to solve this problem. It replaces the arduous task of manually transferring tokens and making payments by giving Web3 teams the tools needed for better visibility and control over their internal finances.
Its solution draws Web3 funds and insider angels who see an industry need for companies to better manage their working capital from custodial and non-custodial crypto wallets.
“Web3 teams are building industry-defining solutions but lack the same rigour when it comes to keeping their financial operations and reporting in order. We built HQ Teams to make finance best practices less exhausting by taking out the tedious manual work. Getting this right means teams can finally expect the same operational excellence for their internal financial workflows as they do with everything else in the sector,” said Sharon Paul, Headquarters Co-Founder and CEO.
HQ Teams has three critical features tailored for Web3 business FinOps:
- Balance management tool for visibility across custodial and non-custodial wallets holding operational funds.
- Executing payables and receivables to manage standard FinOps like payroll, invoicing and spend management.
- Labelling and filtering crypto transactions to ensure records from custodial and non-custodial wallets are accounting-ready (i.e. traditional bookkeeping categorisations).
In addition to directly onboarding Web3 projects, Headquarters is also teaming up with Web3 corporate secretaries, accountants and incubators to utilise HQ Teams as the tool for their clients and portfolio companies.
Headquarters’s Co-Founders are repeat founders with successful exits. Its CEO Sharon Paul was most recently the Head of Payments at Fazz.com and was part of StraitsX’s founding team. The CTO and Co-Founder Sunny Singh has spent nearly a decade leading engineering teams, including Traveloka, Grasshopper, a high-frequency trading firm, and most recently, building out teams for fintech firms under a consultancy Mission.Plus.
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