MoonPay, a leading global financial technology company focused on facilitating value transfer across both fiat and digital assets, has announced its acquisition of Entendre, a company known for developing artificial intelligence-driven accounting agents. This strategic move enhances MoonPay’s capabilities within the financial operations layer, aiming to revolutionize how finance teams manage tasks such as reconciliation, treasury management, and financial closing processes.
Entendre’s platform automates the complete financial operations workflow for businesses that engage in high volumes of transactions across multiple entities and currencies. Noteworthy customers of Entendre include Polygon Labs, Thirdweb, Brale, Babylon Labs, Ostium, Courtyard, and DoubleZero. These companies leverage Entendre to deploy AI agents that streamline and automate complex accounting tasks. Customers typically oversee more than 30 financial accounts, process around 25,000 transactions each month, and operate across three or more legal entities. Notably, finance teams utilizing Entendre have successfully automated up to 93% of their journal entries, significantly reduced manual workload, and expedited their financial close processes by three times.
Ivan Soto-Wright, CEO and co-founder of MoonPay, highlighted the limitations of traditional software that was developed for manual workflows. He remarked, “If businesses are going to adopt stablecoins at scale, their finance operations need the same speed, context, and automation as the payments themselves.” This acquisition allows MoonPay to delve deeper into what Soto-Wright terms the “agentic finance layer,” providing businesses with the tools they need to navigate a rapidly evolving financial landscape.
The adoption of stablecoins has the potential to fundamentally reshape global commerce, enabling businesses to accept payments from diverse countries in various currencies without necessitating an extensive financial infrastructure from the outset. However, this rapid expansion often results in finance teams struggling with disorganization from disparate systems, messy data EXports, and inadequate reporting. Entendre addresses these challenges through its self-improving AI agents, which continually assess top model providers against real-world accounting tasks to ensure optimal performance. As these AI models evolve, they provide unprecedented speed and autonomy, enabling finance teams to shift from monthly closes to daily ones and eliminating the manual selection of models and tokens.
Kareem Khattab, the Founder of Entendre, will take on the role of Vice President of Applied AI at MoonPay. He described the AI agents developed by Entendre as transformative in accounting workflows, stating, “We built Entendre to let AI agents own the full accounting workflow from transaction to ledger.” He emphasized the synergy between MoonPay’s initiatives in commerce, treasury, trading, and payments, and Entendre’s goal of expediting back-office operations to match the pace of financial transactions.
The integration of Entendre’s platform into MoonPay’s existing systems promises a smooth transition for current customers, minimizing disruption while enabling deeper integrations over the subsequent quarters. Entendre’s technology is designed to work harmoniously with established systems like NetSuite, QuickBooks, Xero, and others, facilitating seamless adoption without setup challenges. This integration extends to various finance-related tools and platforms, including spend and revenue systems and communication tools like Slack and Gmail.
This acquisition aligns with MoonPay’s broader strategy to enhance its infrastructure within the digital asset economy. Earlier this year, MoonPay acquired Sodot, a company specializing in key management solutions, thereby securing transactions valued at over $50 billion. Additionally, the company launched MoonPay Institutional, aimed at serving financial institutions and asset managers, while also introducing MoonPay Trade through recent acquisitions.
With the integration of AI-powered finance operations through the Entendre acquisition, MoonPay is positioning itself to further equip businesses for success in an increasingly digital financial environment.
