Because of the rapid growth of the web3 industry, tools to efficiently manage early-stage fundraising processes are currently unavailable. Since blockchain technology naturally allows for digital possessions, one of the first applications of the blockchain was fundraising.
Presail is the name of a Norway-based platform for web3 community-driven funding. Its seed round was oversubscribed and raised $3.8 million. The round was led by SNÖ Ventures and supported by Skyfall Ventures, the venture arm of the biggest crypto exchange worldwide. Additionally, Ryan Hoover — founder of Product Hunt — co-lead Weekend Fund’s investment in Presail. This funding will allow the company to develop new products more rapidly.
The management platform Web 3.0 Community-Driven Funding was launched in 2021. It provides customers with a single source of truth and the ability to easily manage cap tables, collaborate, implement KYC and AML, and automate vesting schedules. The platform allows anyone to come together and raise capital towards a common goal to invest in early-stage web 3.0 projects in return for tokens. According to Presail, customers have raised nearly $100 million from thousands of investors across the world in just four months using the platform.
Presail’s CEO and co-founder Sebastian Almnes thanked his ‘strongest funds and angel investors’ for their support after ten months. He continued by saying he was ready to ‘double down’ and continue to demonstrate that they can create ‘innovative solutions to complex problems.’
Partner Max Samuel of SNÖ Ventures claimed that Presale helps grow the web3 investment space in a compliant and safe manner. He added that Presale provides crucial and user-friendly tools and infrastructure for its growing community. Samuel continued by saying that Presale removes many of the risks, labor and difficulties typically involved with manual web3 investment processes. This is because Presale automates many of the processes currently requiring manual handling. Consequently, Samuel claimed that Presale would attract new investors to the space who were previously hesitant to get involved. Additionally, he said investors could then focus on their primary goal of identifying and supporting great projects.
Skyfall Ventures’ Espen Malmo stated that the young and rapidly growing web3 industry lacks tools to efficiently manage fundraising processes. According to him, Presale.io solves this problem with its product, which helps crypto communities and investors manage their processes in a more efficient manner than they could with spreadsheets.
