Onramp Invest, an iPaaS technology firm that offers access to cryptoassets for RIAs, has raised $6m in seed fundraising as part of growth and integration plans.
The funding round was joined by Eterna Capital, Coinbase Ventures, Galaxy Digital, Fox Ventures, Galaxy Fund Management, Ritholtz Wealth Management, Gemini Frontier Fund, and WisdomTree.
Onramp facilitates education, access, and tools related to cryptoassets for RIAs.
These include enabling advisers to trade on behalf of their clients to accessing educational resources about cryptoassets at Onramp Academy.
Onramp said that the fresh capital will be used to expand service offering to RIAs, explore broker-dealer registration, and increase the size of its engineering team.
Fox Ventures managing partner Chad Fox said: “I am extremely excited that we were able to participate in Onramp’s seed round alongside other top tier FinTech and cryptoasset investors.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
“We have such conviction in Tyrone and the team’s ability to connect the legacy FinTech sector to the entire cryptoasset ecosystem that we made a commitment six times larger than our standard check size.”
Onramp Invest CEO Tyrone Ross, Jr. said: “I want to thank all of our seed fundraising participants for blessing our company with this great opportunity to demystify cryptoassets and for me to inspire little Black boys and show them that they can be a startup CEO too.
“And I appreciate our early adopters and supporters who have helped us to launch Onramp and encouraged us to stay true to our mission to innovate.”
Earlier this week, Mako Fintech, a financial technology platform that automates wealth management processes, has raised $2m in a seed funding to expand its team.