Onramp Invest sees a massive influx in capital. The crypto asset solution platform plans to run with the support and expand its reach.
The iPaaS technology firm Onramp Invest is the first of its kind – created by asset advisors for asset advisors. It allows registered investment advisors (RIAs) access to clients’ digital assets. Earlier today, the firm announced success in raising $6 million in seed funding to continue their expansion. This comes on their one-year company anniversary.
Their funders include a slew of big names both in and out of the crypto space. Onramp Invest boasts of support from the likes of Coinbase Ventures, Fox Ventures, Gemini Frontier Fund, and others.
Managing Partner of Fox Ventures, Chad Fox called the investment in Onramp an exciting venture. He also praised the team behind Onramp:
“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. This is a testament to what this team is capable of, and I look forward to supporting them as they continue to build infrastructure that connects and makes cryptoassets accessible.”
For Onramp this means a new chapter of expansion. The plan going forward is to broaden its services to RIAs, dip into broker-dealer registration, and increase its operations internally.
Thus far, the firm has a reputation for their education, access, and tools (EAT) for RIAs working on the platform. They also coined Onramp Academy, another way to provide education to their advisors.
In light of this milestone, Tyrone Ross, Jr., Onramp Invest Chief Executive Officer, commented on the development:
“Black founders historically get left out of these types of funding opportunities. 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.”
Digital Asset Investing On the Rise
As Onramp prepares for their expansion after this recent round of funding, it seems others are doing the same. According to a study released by Fidelity Digital Assets this past month the future is bright for digital assets. There are major indications that 71% of institutional investors intend to buy or invest in digital assets. If true, this finding is a big one for the entire world digital assets inhabit.
If digital assets continue to rise in popularity and worth, companies like Onramp will also appreciate in value.