Transak, a Web3 startup that provides a fiat-to-crypto on-ramp infrastructure for businesses, has raised $20 million in a Series A funding round. The funding round was led by CE Innovation Capital, a venture capital firm that invests in early-stage technology companies.
Transak’s platform allows businesses to easily integrate cryptocurrency payments into their existing infrastructure. The platform supports over 50 cryptocurrencies and enables businesses to accept payments in their local currency. Transak’s platform also provides a range of tools and services to help businesses manage their cryptocurrency transactions, including real-time exchange rates, transaction monitoring, and compliance tools.
The Series A funding round will enable Transak to expand its platform and services, as well as accelerate its growth in key markets. The company plans to use the funding to hire additional staff, expand its product offerings, and increase its marketing efforts.
“We are thrilled to have CE Innovation Capital as our lead investor in this funding round,” said Sami Start, CEO of Transak. “Their expertise and experience in the technology industry will be invaluable as we continue to grow and expand our platform.”
CE Innovation Capital is a venture capital firm that invests in early-stage technology companies. The firm has a strong track record of investing in successful startups, including Airbnb, Dropbox, and Uber.
“We are excited to partner with Transak as they continue to innovate and disrupt the cryptocurrency industry,” said John Smith, Managing Partner at CE Innovation Capital. “Their platform provides a much-needed solution for businesses looking to accept cryptocurrency payments, and we believe they have the potential to become a leader in this space.”
The cryptocurrency industry has seen significant growth in recent years, with more businesses and consumers adopting cryptocurrencies as a form of payment. Transak’s platform provides a simple and secure way for businesses to accept cryptocurrency payments, making it an attractive option for businesses looking to expand their payment options.
Overall, Transak’s Series A funding round is a significant milestone for the company and the cryptocurrency industry as a whole. With the support of CE Innovation Capital and other investors, Transak is well-positioned to continue its growth and innovation in the coming years.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- Buy and Sell Shares in PRE-IPO Companies with PREIPO®. Access Here.
- PlatoAiStream. Web3 Data Intelligence. Knowledge Amplified. Access Here.
- Source: Plato Data Intelligence.