Multis
DefunctYC S19Paris, FR · Founded 2019 · 14 employees · 5 known investors
Multis builds accounting and treasury management software that generates financial statements and automates accounting tasks for cryptocurrency wallet holders and web3 organizations.
Also known as Multis Corp · multis.co
Founders & leadership· Y Combinator alumni (S19)
Multis was founded in 2019 by Thibaut Sahaghian and Theophile Villard.
Investors · 5
Also in the syndicate · 1
The YC application· Summer 2019 batch
Multis at Y Combinator's Demo Day
Multis
Company profile
researched Aug 2026Multis is a Paris-region (Montreuil, Île-de-France) fintech founded in 2019 that built banking-like accounts and treasury/accounting tooling for companies holding cryptocurrency. Its initial product was a business account allowing teams to store, send and receive crypto, built on a multisignature Ethereum wallet in which the company did not control the keys — a design the CEO described as regulatorily useful because Multis did not hold assets and could not review or block transactions. The product supported Ethereum-based ERC-20 tokens including stablecoins such as USDC and DAI, in-app token swaps, saved payee addresses, team member permissions and limits, and approval workflows requiring a set number of signers per transaction. Transactions could be exported for accountants and tax filing, and idle assets could be placed into DeFi yield via Compound.
The company later positioned itself as accounting and treasury management software for web3 organizations, producing financial statements and automating accounting tasks across wallets. A launch of "Multis USD" added checking accounts and corporate cards for web3 startups, combining crypto and USD management in one app: buying and selling crypto, running payroll in crypto and USD, unlimited free corporate cards for online and offline spend, fee-free ACH and wire transfers, and crypto plus USD accounting exports, with Gnosis Safe as the underlying security layer. Marketing of the earlier offering also referenced earning interest on treasury, spending policies and streamlined payments.
Multis was part of Y Combinator's Summer 2019 batch and is listed by YC with a team size of 14 and status Inactive. The French startup directory myfrenchstartup lists MULTIS as a société par action simplifiée (SIRET 85052274900025, NAF 6201Z) registered at 95 Avenue du Président Wilson, 93100 Montreuil, with capital of €405K, 11–50 employees, and records the company as struck off (radiée) since May 2024.
Founding story
Multis was founded in 2019 by Thibaut Sahaghian, who had previously been an account executive at Stratumn (2017–2019) and an investor at Le Studio VC (2016–2017), and by Theophile Villard. A French Tech directory entry quoted the team describing Multis as their entry into blockchain, with the stated vision of building a "cryptobanque" for companies and replicating the neobank experience with cryptocurrency.
Business model
B2B software-as-a-service sold to companies rather than consumers; myfrenchstartup classifies the model as B2B with a web platform and mobile app in the finance/banking sub-sector. Sources do not state pricing or fee structure.
Not stated in the sources.
Traction
Y Combinator lists a team size of 14. TechCrunch reported in September 2020 that clients were mostly companies working on blockchain products, generating revenue in cryptocurrencies or paying people using stablecoins; no customer counts, volumes or revenue figures for Multis are given in the sources.
Latest developments
The French registry listing records MULTIS as struck off (radiée) since May 2024, with the last BODACC movement a capital change in May 2021. Y Combinator lists the company as inactive and its founders as "Former Founders"; Thibaut Sahaghian's YC bio says he built and sold a Y Combinator- and Sequoia-backed US-regulated fintech and subsequently worked at Safe, described as the acquirer, where he helped take the core business from 0 to $6M ARR before moving into advisory work on AI.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Positioned as a crypto-native alternative to business banking, compared by TechCrunch to business-banking startups such as Qonto, and framed as a bridge between fiat and cryptocurrency for companies whose banks were unwilling to serve web3 startups. Sources do not provide market share or ranking data.
Non-custodial architecture — Multis did not hold keys or assets, which the CEO said simplified its regulatory position — combined with team-oriented controls (permissions, limits, multi-signer approvals), accounting exports, and, in the later product, a single app covering both crypto and USD with corporate cards, ACH and wires. Positioned against the difficulty web3 teams faced opening accounts at exchanges or banks, with account approval advertised within a day.
Technology
A multisignature Ethereum wallet underpins the accounts, with Multis not holding the private keys and therefore unable to access, review or block customer funds or transactions. The platform supports ERC-20 tokens including USDC and DAI, offers in-app token swaps, configurable multi-approver transaction workflows, and DeFi yield through Compound. The later USD product was described as carrying the security guarantees of Gnosis Safe. Site tech-stack detection lists Cloudflare hosting and DNS, Fastly, core-js, Underscore.js, and email providers including Mailjet, SendGrid, Amazon SES and Google Apps.
Go-to-market
Direct self-serve signup for web3 companies and DAOs, promotion through Y Combinator (launch posts, YC perks and priority onboarding for referred companies), founder-led outreach by email, and partnership outreach to VC funds, investors, incorporators and agencies to onboard their portfolio companies. Coverage in technology press such as TechCrunch also supported awareness.
Companies and DAOs holding treasury in cryptocurrency: web3 startups, businesses building blockchain products, companies generating revenue in crypto, and teams paying employees or contractors in stablecoins. The company also sought partnerships with VC funds, investors, incorporators and agencies to reach their portfolio companies.
Geography
Headquartered in Paris, France, with a registered address in Montreuil, Île-de-France; described as a French startup serving companies internationally and offering USD accounts, ACH and wire transfers for web3 startups.
History
Founded in 2019 and part of Y Combinator's Summer 2019 batch, Multis raised a $2.2 million seed round announced in September 2020, at which point clients were mostly companies building blockchain products, generating revenue in crypto, or paying people in stablecoins, and the company said it planned to add EUR and USD accounts with cards and IBANs. It subsequently launched Multis USD, adding USD checking accounts and corporate cards for web3 startups. TechCrunch covered the company again in February 2022 under the headline that Multis wanted to build the financial backbone of crypto-native organizations. Y Combinator now lists the company as inactive, the founder's YC bio refers to Safe as the acquirer of the business, and the French registry listing shows the entity as struck off since May 2024.
Risks & controversies
The sources note the difficulty crypto companies face with traditional banking and exchange onboarding (funding freezes, lengthy compliance checks) as the market problem addressed. The company itself is no longer operating: Y Combinator lists it as inactive and the French registry entry shows the company as struck off since May 2024. No controversies or litigation are reported in the sources.
Compiled by commissioned research from 5 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 5
launches, deals, and filingsThe myfrenchstartup registry listing records MULTIS (SIRET 85052274900025, SAS, Montreuil) as "radiée" since May 2024. Y Combinator separately lists the company status as Inactive.
Thibaut Sahaghian's Y Combinator profile states he built and sold a US-regulated fintech backed by Y Combinator and Sequoia and refers to Safe as "our acquirer", where he worked with the founding team on strategy and led a 30-person team. The source does not state a transaction date or amount.
Y Combinator's company page cites a TechCrunch article dated 17 February 2022 titled "Multis wants to build the financial backbone of crypto-native organizations".
Multis launched a product allowing web3 startups to manage crypto and USD in a single app, including free unlimited corporate cards, fee-free ACH and wire transfers, buying/selling crypto, crypto and USD payroll, and accounting exports, built with Gnosis Safe security guarantees; accounts were advertised as approved within a day.
TechCrunch reported that Multis, a French startup building business bank accounts for cryptocurrencies, raised a $2.2 million seed round with participation from White Star Capital, Y Combinator, Coinbase Ventures, eFounders, Greenfield One, Digital Currency Group, Monday Capital and SGH Capital.
$2.2M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 5
primary sources listed
- Multis Solutions LLCgetmultis.com · web
5 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Multis do?
- French startup providing crypto business bank accounts and accounting/treasury management software for web3 teams.
- Who founded Multis?
- Multis was founded by Thibaut Sahaghian, Theophile Villard in 2019.
- Who are Multis's investors?
- Multis's investors include Y Combinator, Coinbase Ventures, Sequoia Capital, White Star Capital.
- Where is Multis headquartered?
- Multis is headquartered in Paris, FR.