Venly, the start-up that makes the metaverse accessible

Launched in 2018, start-up Venly develops the tools needed to make the metaverse accessible. In early May, the start-up raised 21 million euros. Now she recruits new workers every week.

When talking about the metaverse and other web3, the main companies that make the news are usually found on the other side of the Atlantic. However, the phenomenon of the moment is not limited to the American market. In our country, one of the most prominent players in parallel digital worlds is called Venly. Founded in 2018, this Antwerp start-up has the mission to become an indispensable partner for anyone looking for a place in the virtual universe. Specifically, it offers a series of essential services and tools for platforms and developers.

Venly, for example, developed a “wallet” system. Simplifies the management of transactions internal to a universe. The start-up’s services also come out of the virtual world to connect the real world with companies that would like to enter the fashion niche. “E-commerce is one of our main goals and we develop both ways”, explains Yan Ketelers, CMO at Venly. On the one hand, for companies active in the metaverse that would like to sell virtual objects and physical derivatives. And, on the other hand, for companies that already have a classic offer and want to enter in the metaverse”, explains the marketing manager.

NFT Technical Provider

Flemish society also follows closely the trend around NFTs. It offers brands, personalities and companies to ensure implementation of the technical aspect behind creating one of these ‘Non-fungible Tokens’. “Influencer Logan Paul and artist Lewis Capaldi, for example, sold NFTs based on our technology,” says the marketing manager.

Still in its infancy, initiatives around the metaverse are developing in all directions. To ensure you are not betting on the wrong horse, the company aims to be as open and generalist as possible. “Our technology is not linked, for example, to a specific blockchain. Today we work with about ten different blockchains”, explains the group’s CMO. “This allows us to not be locked into one technology and to be able to easily switch to another blockchain if industry evolution requires it one day.”

“We were there before the hype caused by the Meta announcement. It gives us legitimacy.”

Yan Ketelers

Venly’s CMO

Although little known to the general public, Venly is starting to a name in your industry. From the beginning, she notably worked on a first project with the giant Ubisoft. Today, her main client is the French platform “The Sandbox”, which over the weeks has become one of the most anchored references in the metaverse universe. “We launched it in 2018. So we were there before the fad brought on by the Meta announcement. This gives us legitimacy. We also grow with the projects. In 2018, Sandbox was much smaller. The disadvantage of being among the pioneers is that we also had the first failures in the sector among our customers”, explains the manager.

21 million raised in May

Things seem to be looking up for Venly. In early May, the start-up completed its second fundraising. she gathered21 million euros from a series of investors brought together by the Courtside Ventures fund. The first supporters, present during the initial fundraising of two million euros, also participated in this new round of funding, including the Imec.iStart incubator.

“We are in a new industry where legal issues are still very numerous.”

Yan Ketelers

Venly’s CMO

The money raised is intended to give a big boost to growth through massive recruitment. “We hire new employees every week. We are currently 38. We hope to be close to 100 by the end of the year”, says Yan Ketelers. On the revenue side, the group also recorded a significant increase. “In 2021, the turnover was around one million euros. We have already surpassed this milestone for 2022″, guarantees Yan Ketelers. Although the group is obviously looking for a good part of the developers, Venly also wants to strengthen its legal team. “This aspect of the activity is one of our biggest challenges. We are in a new sector where legal issues are still very numerous. American companies are less careful about this aspect, but we prefer to proceed safely. However, it is not always easy to answer questions about compliance or taxation.”

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