Key Facts
1kx is a research-driven global investment firm specializing in blockchain technologies.
1kx uses Meow for business banking and stablecoin payments.
1kx has invested in 168 startups, with 12 unicorns and 19 profitable exits.
Meow enables 1kx to send and receive USDC with zero fees, all through their existing cash balance.
From the Meow team
“Venture funds like 1kx are investing in the future of money. We’re glad to power their funds at Meow. ”
— Brandon Arvanaghi, CEO
Before Meow
Before Meow, 1kx's financial setup was fragmented across multiple banks and providers. They switched to Meow to unify their financial operations, including business banking and stablecoin payments.
Features
How they use Meow
Global business checking through Meow's partner banks.
Send and receive USDC with zero fees, all through your existing cash balance.
Overview
1kx is a crypto venture capital firm founded in 2017 by Lasse Clausen and Christopher Heymann. It focuses on early-stage blockchain networks, Web3, and decentralized finance, managing around $75 million in assets with typical round check sizes ranging from $3 million to $25 million.
This case study was conducted with Henry Brodie, COO at 1kx Ventures, and Marc Egloff, Operations Analyst at 1kx Ventures.
“We onboarded several entities within a week or two, and now we manage all of them from a single log-in instead of separate portals and separate relationships.”
⎯ Henry Brodie, COO at 1kx Ventures
The Problem
Q. How were you handling your financial setup before Meow?
Before Meow, our financial setup was fragmented. We were spread across multiple banks and had to use a separate provider to send and receive stablecoins [Brodie].
The Switch
Q. Why did you switch to Meow?
We onboarded about a dozen entities to Meow. The compliance process was organized and efficient. We primarily used the account to process vendor payments, hold our fund balances, and send and receive USDC [Brodie].
The Results
Q. What results have you seen since switching to Meow?
Onboarding was dramatically faster than the traditional banks. We onboarded several entities within a week or two, and now we manage all of them from a single log-in instead of separate portals and separate relationships [Brodie].
Stablecoin payments have been the biggest game-changer. We can send USDC directly from our wallet and have it available as USD in minutes. Previously we had to route through an exchange to off-ramp to fiat, which meant an extra intermediary, extra fees, and extra delay on every conversion. Now it's one step [Egloff].
The UI is also genuinely intuitive. Our team was operating it confidently within a day, which is not something I can say about other bank portals we've used [Egloff].
“We can now send USDC directly from our wallet and have it available in USD in minutes. I wish we switched to Meow sooner.”
⎯ Marc Egloff, Operations Analyst at 1kx Ventures
Looking Ahead
Q. How do you see your relationship with Meow growing in the future?
We're planning to use Meow's API to automate our payment workflows and pull balances directly into our internal reporting. That's not something our previous providers could offer at all [Brodie].
"Venture funds like 1kx are investing in the future of money. We’re glad to power their funds at Meow."
⎯ Brandon Arvanaghi, CEO at Meow
Meow Technologies is a financial technology company, not a bank or FDIC-insured depository institution. The banking services described in this message are provided by Grasshopper Bank, N.A.; Members FDIC.
The case studies discussed herein were selected based on objective non-performance based criteria and are provided for illustrative purposes. There is no guarantee Meow will find similar opportunities in the future.
While the information prepared in this message is believed to be accurate, we make no express warranty as to the completeness or accuracy of the information. Actual results may vary depending on various market conditions.
The individual interviewed herein has not been compensated for sharing his opinion and experience with Meow. Any compensation creates a conflict of interest, and the interviewee’s comments may not be representative of any other person’s experience with Meow.
