Norway-based Presail bags €3.8M for platform to manage web3 investments

Oslo, Norway-based Presail, a management platform for community-driven web3 funding, announced that it has raised $3.8M (approximately €3.8M) in an oversubscribed Seed round of funding. This funding round will allow the company to expand its staff and accelerate the introduction of new product lines.

Presail allows anyone to come together and raise capital towards a common goal: investing in early-stage web 3.0 projects in return for tokens or pooling funds to bid on a digital asset up for auction. 

Sebastian Almnes, Presail’s CEO and co-founder, says, “It’s rewarding to see the enthusiasm around what we’re building. We’re ten months in, and I’m grateful for having some of the strongest funds and angels in our corner. Now we’re ready to double down and keep showing that we can create innovative solutions that solve complex problems.”

Investors supporting Presail

The round was led by SNÖ Ventures. The firm aims to enhance the Nordic ecosystem by facilitating the sharing of resources, talent, ideas, and experience throughout the Nordic region, and by leveraging its networks to support Nordic companies in their global expansion.

Max Samuel, Partner at SNÖ Ventures, says, “Presail is accelerating the safe and compliant expansion of the web3 investment landscape by providing a burgeoning community with critical, user-friendly tooling and infrastructure. Presail removes the operational friction, labour, and risk prevalent in today’s manual web3 investment processes, attracting new market participants into the space, and allowing investors to focus on their core mission of identifying and supporting great projects.”

The round also saw participation from Kraken Ventures, the venture arm of one of the largest crypto exchanges worldwide, Skyfall Ventures, and Weekend Fund, led by Ryan Hoover, the founder of Product Hunt.

Additionally, Presail is also backed by many prominent and strategic angel investors, including Avlok Kohli, CEO of AngelList Venture, Jessica Day, Director of Product at AngelList Venture, and Aleksander Leonard Larsen, COO of Sky Mavis/Axie Infinity.

Token management platform for web 3.0

Founded in 2021 by Sebastian Almnes, Tomas Veiden, Hamza Nebolsi, and Milad Mirshahi, Presail is a management platform for community-driven funding in web3, giving customers a single source and ability to collaborate, manage cap tables, automate vesting schedules, and implement KYC / AML.

The Presail journey started as the founding team struggled to keep track of their own presale deals. The founders had firsthand knowledge of the challenges associated with manually managing these investments using spreadsheets because they had taken part in more than 200 deals as members of several investing groups. Their answer was Presail, which offers automation and security to address the challenges of effectively and safely handling an excessive amount of deals and fresh information.

The platform has helped its clients, which include huge investment communities and country governments, raise close to $100M from thousands of investors globally in just four months.