TRES, a company specializing in accounting and taxation for cryptocurrencies, has raised $11 million in investments. These funds will be used to expand their product line and services in the blockchain technology sector. Based in Tel Aviv (Israel), the company already supports over 100 first and second layer networks (L1 and L2), including Bitcoin, Ethereum, Solana, and Avalanche.
TRES leaders plan to regularly add support for new blockchains, aiming for weekly updates. Currently, the company serves many clients, managing assets totaling $19 billion. TRES assists clients in managing, tracking, and coordinating digital currency operations.
"With increasing institutional interest in the crypto industry, there is a growing demand for accounting and tax tools similar to those available in traditional finance. TRES aims to provide a comprehensive approach to obtaining complete and accurate information about financial operations in Web3," said co-founder and CEO Tal Zakon.
As part of the Series A funding, the total amount of funds raised by TRES reached $18.6 million. Participants included Faction, New Form, Cyber Fund, and Ambush Capital. This time, the names of the investors were not disclosed.
