Transak, the fiat-to-crypto platform, raises $20M in Series A financing

Transaka supplier ofinfrastructures from Web3 paymenthas completed a financing round from 20 million dollars from CEiC, Animoca Brands, Sygnum and others.

Founded in 2019 in Miami, Transak developed a fiat-to-crypto payment solution enabling the purchase of Bitcoin and over 150 tokens. Its ‘On-Ramp’ service is now used by well-known Web3 applications such as MetaMask, Coinbase Wallet and Aave to facilitate cryptocurrency purchases for their users.

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Already backed by ConsenSys, the American start-up accelerates this week with a series A. Tuesday, Transak has indeed announced to have raised 20 million dollars from a myriad of major investors.

Among them were SBI Ven CapitalSygnum, Third Kind Venture, Animoca Brands, Zilliqa Capital, IOSG Ventures and Axelar. The deal was led by Chinese fund CE Innovation Capital. Several angel investors, including Sandeep Nailwal from Polygon, also put their money where their mouth is.

At CEiC, we are strategically investing in the propulsion of the Web3 ecosystem. Transak is at the forefront of this revolution, using its On & Off Ramp solution as a powerful instrument to usher in the next billion Web3″ users, commented Bingze Gu, Partner at CE Innovation Capital.

Last month, Alchemy Pay, another start-up company that offers fiat to crypto payment rampshas raised $10 million from Singaporean VC DWF Labs.

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