Accountants for Web3 startups
Ensuring the on-chain transaction trail is intact, while you scale your business.
Why are we here?
SimpleInsight is here to ensure that your Web3 accounting processes utilise the most appropriate platforms to keep your accounts in order. Enabling audit review, the raising of capital and data driven decision making in a world which is increasing its adoption of stablecoin.
We are equally committed to supporting female, black and LGBTQ+ founders who remain some of the most under-funded and under-supported people in the startup ecosystem — including in Web3.
The challenge
Web3 accounting: where it breaks down
Wallets, exchanges and custody platforms generate activity that traditional bookkeeping was never built to capture, and the gap between what the books say and what's actually happening on-chain only grows with the business.
- On-chain transactions don't map cleanly onto a standard chart of accounts, so token movements end up bundled into a catch-all account instead of being properly classified.
- Treasury gains and losses get mixed into operating results, making it impossible to tell how the underlying business is actually performing.
- Wallets, exchanges and the general ledger all tell a different story, because someone is still copying transactions across by hand every month.
- Auditors and investors ask pointed questions about custody, valuation and controls, and those answers take longer to put together when wallets and the ledger aren't already talking to each other.
- Most accounting software was built for conventional transactions, so Web3 activity needs specialist tooling and specialist experience layered on top of it.
None of this gets solved by waiting for accounting software to catch up. It gets solved by working with an accountant who already speaks the language of wallets, custody and on-chain transactions.
Our approach
Our process ensures that you can have confidence in the numbers being transported to the ledger. This will help to avoid any misreporting to the board, the community, auditors, investors and the tax authorities.
Reconcile
Every wallet, exchange and custody account reconciled to the ledger every month, not estimated at year end.
Classify
On-chain activity mapped onto a proper chart of accounts, so token movements are classified, not bundled into one catch-all line.
Report
Operating performance reported separately from treasury gains and losses, so the numbers tell the real story.
Certify
Working papers and an audit trail built as you go, so due diligence and audit never stall on the numbers.
Who we can help
We help Web3 startups built by all people. We especially love to help the following groups in the startup ecosystem. One approach behind everyone: a specialist accountant who already speaks the language of wallets, custody and on-chain transactions.
Female founders
Women founders continue to find difficulty in raising capital in the tech ecosystem. Some of the key findings from the Invest in Women Taskforce’s “Manifesto 2026: Driving Lasting Change” report:
22%
of senior investment roles in UK venture capital are held by women, and just 14% of angel investors are women.
49%
of investment flowed to women-founded teams when women angels took part in the round, compared with just 19% when no women angels were involved.
8%
of UK university spinouts in 2023 had all-women founding teams, while more than 75% were all-male.
Source: Invest in Women Taskforce, Manifesto 2026: Driving Lasting Change.
We would like to hear from women tech founders from all over the UK, including those building in Web3. SimpleInsight is here to support as many female tech founders in the ecosystem as possible, to help prove that the above findings don’t have a place in our future society, and that change and investment must happen at a faster rate.
Read the Invest in Women Taskforce manifesto →
Black founders
Black founders in the UK continue to be significantly underrepresented in venture capital, and the gap widens at every later funding stage. Some of the latest findings from Extend Ventures’ ongoing research, as reported by TechCrunch and CNBC:
0.95%
of UK VC funding value reached Black founders in 2023, down from a 1.13% peak in 2021, despite Black people making up 2.5% of the UK population.
80
Black founders have raised UK VC funding in total since 2009, up from just 38 as recently as 2019.
13
Black women raised any VC funding in the UK between 2019 and 2023, compared with over 3,700 white men in the same period.
Source: Extend Ventures data, as reported by TechCrunch (Dec 2023) and CNBC (Jan 2025). Latest confirmed figures are for 2023.
Being a black tech founder can sometimes be a lonely journey, but understand that SimpleInsight will forever support the change needed to improve the level of funding received by black tech founders. We are here to support you and your business, Web3 or otherwise.
We want to hear from black tech founders from all over the UK and be part of a tech ecosystem that knows diversity is profitable and invests in its future.
Read Extend Ventures reports →
LGBTQ+ founders
Many LGBTQ+ founders still weigh up whether to disclose their identity to investors at all, and a funding gap follows those who do. Some of the key findings from Proud Ventures’ 2023 survey of the UK startup ecosystem, the first of its kind to dissect how VCs actually respond to LGBTQ+ founders:
75%
of LGBTQ+ founders, and 79% of LGBTQ+ investors, conceal their sexual orientation or gender identity within the UK startup ecosystem.
54%
of investors didn’t know whether they had any LGBTQ+-led companies in their portfolio at all — before any question of funding is even considered.
26%
of investors were taking steps on LGBTQ+ inclusion specifically, even though 80% said they were acting on diversity more broadly.
Source: Proud Ventures’ 2023 UK LGBTQ+ Founder Report, supported by Founders Factory and Investec Wealth, as reported by CNBC (Feb 2023), tech.eu (Feb 2023) and ITPro.
At SimpleInsight, we are here to support the startups of the LGBTQ+ community. Discrimination in all forms is unacceptable, and this report has a harrowing message when intersectionality is considered and VC responses are dissected.
If you are from the LGBTQ+ community please feel free to get in touch. We would love to help you scale your business and we will reserve a safe space for you.
Read the LGBTQ+ Founder Report →
Diversity & inclusion
SimpleInsight supports and enjoys working with people from all different backgrounds. There are real advantages to building a company and a service with a diverse workforce: higher staff engagement and stronger performance, a better ability to respond to globalisation with strategy drawn from different perspectives, a stronger brand and reputation as a socially responsible, ethical business, and a better ability to attract talent and close skill gaps.
35%
more likely to have above-average financial returns, for companies in the top quartile for racial and ethnic diversity (McKinsey & Company).
19%
higher revenue from innovation at companies with more diverse management teams (Boston Consulting Group).
75%
of the global workforce was projected to be made up of millennials by 2025 (The Guardian; cited on the original site, now a historical prediction).
- Higher staff engagement leading to stronger employee performance.
- A better ability to react to globalisation, with strategy drawn from differing backgrounds (World Economic Forum).
- Improved brand and reputation as a socially responsible, ethical company.
- An ability to attract talent and close skill gaps within an organisation and industry.
- Improved financial performance, in line with McKinsey's research.
We recognise the protected characteristics set out in UK law, including age, disability, gender reassignment, marriage and civil partnership, religion and belief, and sexual orientation, and we're committed to a workplace and client relationships that reflect that.
