IT Solutions

iPaaS Technology Firm Onramp Invest Raises $6M

The infusion of capital will enable the integration platform as a service (iPaaS) company to expand its cryptoassets platform to registered investment advisers.

Onramp Invest, an iPaaS technology firm that provides access to cryptoassets for RIAs, announced today it has raised $6 million in seed fundraising with major contributions from Coinbase Ventures, Eterna Capital, Fox Ventures, Galaxy Digital, Galaxy Fund Management, Gemini Frontier Fund, Ritholtz Wealth Management and WisdomTree. As a result of this raise, Onramp plans to expand its service offering to RIAs, explore broker-dealer registration, and increase the size of its engineering team.

Onramp is known for providing three things to RIAs — education, access, and tools (EAT). From viewing held-away cryptoassets to enabling advisers to trade on behalf of their clients to accessing educational resources about cryptoassets at Onramp Academy, Onramp is passionate about educating financial advisers and their clients about cryptoassets by outlining the framework of crypto networks, providing advisers with client-ready materials, and conducting deep-dive research for continuing education.

“I am extremely excited that we were able to participate in Onramp’s seed round alongside other top tier FinTech and cryptoasset investors,” said Chad Fox, Managing Partner, Fox Ventures. “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.”

Reflecting on what receiving this fundraising means, Tyrone Ross, Jr., Onramp Invest Chief Executive Officer, said, “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.”

Onramp celebrates its first year in business today, August 3. Since the platform’s official launch at the end of May, it has provided fast, direct access to cryptoassets for RIAs; easy adviser client onboarding via Gemini, a crypto exchange and custodian, and Prime Trust; a simple adviser enrollment so they can quickly begin buying bitcoin and ETH for their clients; links to 10 different sources so advisers can see held-away assets; and high-quality educational materials for all cryptoassets comfort levels through Onramp Academy.

Onramp has made some exciting recent additions to its team including the appointment of Akin Sawyerr to its Chief Innovation Officer. Additionally, Justin Castelli, CFP®, was recently elevated to Chief of Staff; Torie Happe was promoted to Head of Business Development; and Caitlin Cook was advanced to Vice President of Operations at Onramp Academy.

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