Total amount raised
$20.6 Million
Latest funding date
05/01/2023
Location
Transak has successfully raised funding over four rounds, with notable investors including Tether and Genting Ventures. The platform offers comprehensive fiat on/off ramp solutions for Web3 and crypto applications, supporting 136 cryptocurrencies across 64 countries.
Keep reading to explore the intricacies of Transak's fundraising journey and the investors backing this innovative platform.
What Is Transak?
Transak, founded in 2018, is a global web3 infrastructure services provider based in Brooklyn, New York. The company specializes in fiat on/off ramp solutions for Web3 and crypto applications, operating within the industries of Cryptocurrency, Financial Services, FinTech, Payments, and Web3.
With a workforce of 101-250 employees, Transak offers a developer integration toolkit that enables users to buy and sell crypto within any app, website, or web plugin. Their services are available in 64 countries, supporting 136 cryptocurrencies through various payment methods like debit cards and bank transfers.
How Much Funding Has Transak Raised?
- Pre-Seed Round
- Amount Raised: USD 150,000
- Date: March 2020
- Lead Investors: Tachyon by ConSensys Mesh
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial infrastructure and launch the platform.
- Seed Round
- Amount Raised: USD 410,000
- Date: March 2021
- Lead Investors: ConsenSys, IOSG Ventures, Koji Capital, LuneX Ventures, Mask Network, The LAO
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series A Round
- Amount Raised: USD 20,000,000
- Date: May 2023
- Lead Investors: CE Innovation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support global expansion and develop onboarding solutions for Web3 games and financial applications.
- Series Unknown Round
- Amount Raised: USD 16,000,000
- Date: August 2025
- Lead Investors: IDG Capital, Tether
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance product offerings.
Total Amount Raised: USD 36,560,000. Current Valuation: Not publicly disclosed.
Key Investors
- IDG Capital
- Details: IDG Capital is a global investment firm with a focus on technology and innovation. They have a strong presence in both early-stage and growth-stage investments.
- Investment Focus Areas: Technology, Media, Telecommunications, Healthcare, Consumer Products, Services
- Notable Investments: Xiaomi, Tencent, Meituan-Dianping
- Tether
- Details: Tether is a blockchain-based cryptocurrency whose tokens are backed by an equivalent amount of traditional fiat currencies. It is widely used for trading and as a stablecoin in the crypto market.
- Investment Focus Areas: Blockchain, Cryptocurrency, Financial Services
- Notable Investments: Bitfinex, Celsius Network
- CE Innovation Capital
- Details: CE Innovation Capital is a venture capital firm that focuses on early-stage investments in pioneering companies. They led the Series A funding round for Transak.
- Investment Focus Areas: FinTech, InsurTech, RegTech, WealthTech
- Notable Investments: Airwallex, WeLab, FinAccel
- ConsenSys
- Details: ConsenSys is a blockchain technology company that develops decentralized software services and applications. They are a key player in the Ethereum ecosystem.
- Investment Focus Areas: Blockchain, Decentralized Applications, Ethereum Ecosystem
- Notable Investments: MetaMask, Infura, Truffle
- IOSG Ventures
- Details: IOSG Ventures is a venture capital firm that invests in blockchain and decentralized technologies. They focus on projects that aim to build the infrastructure for Web3.
- Investment Focus Areas: Blockchain, DeFi, Web3, Infrastructure
- Notable Investments: Polkadot, NEAR Protocol, 1inch
What's Next for Transak?
Transak is poised for significant growth as it expands its global reach and enhances its onboarding solutions. With a focus on Web3 games and financial applications, the company aims to simplify the process of buying and selling crypto assets, making it easier for Web2 users to transition to Web3. The recent $20 million Series A funding will support these initiatives, allowing Transak to tap into new markets in the Middle East, Southeast Asia, and other Asia Pacific regions.
Future fundraising opportunities appear promising as Transak continues to develop new products and secure additional regulatory licenses. The company's ability to attract substantial investment indicates strong confidence in its growth potential. However, navigating complex regulatory environments and ensuring robust security measures will be critical challenges. As the Web3 ecosystem evolves, Transak's strategic focus on user experience and compliance will be key to its success.
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