Coinbooks SWOT Analysis
The global Web 3.0 blockchain market size was USD 1.36 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 44.9% from 2022 to 2030. This would put the market at an estimated value of USD 33.53 billion by 2030. The market was dominated by the public segment in 2021 (compared to private, consortium, and hybrid). The growth of the public segment can be attributed both to increased demand for public blockchain technology and to free, secure, and permission-less entry to anyone with internet access. The year 2021 saw the cryptocurrency segment of the market again dominating the overall market, as enterprises were increasingly in need of high-performance cryptocurrency transaction services. Web 3.0 cryptocurrencies used blockchain and smart contracts to automate transactions and eliminate the need for a third-party entity, which is anticipated to support the segment’s further growth.
Coinbooks is building the Intuit for crypto companies: a crypto accounting and tax software that saves users hours of labor in accounting, payroll, and invoicing. Some of the prime features of the Coinbooks solution include the ability to reconcile digital assets (from NFTs to DeFi activity) on any chain/exchange/custody solution, integration capabilities with 20+ ERP solutions (two-way sync with accounting software like Netsuite, QBO, Sage intacct, Xero, and Freshbooks), extensive reporting (impairment, capital gains/losses, and more), and crypto AP/AR.
After raising a $3.2M seed round earlier this year, Coinbooks is now backed by leading investors including Seed Club Ventures, Lattice Capital, and Y-Combinator.