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Onramp Raises $12.5 Million Series A at $135 Million Valuation

Early Riders led the funding round, with its private clients and external angel investors also participating, as Onramp expands its multi-institution Bitcoin custody model with BitGo, Coincover, and Tetra Trust.

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Summary

Onramp announced a $12.5 million Series A round at a $135 million pre-money valuation. Early Riders led the financing, with participation from its private clients and external angel investors. The company provides a multi-institution custody platform for large Bitcoin holders through BitGo, Coincover, and Tetra Trust.

Terms & Concepts
  • Series A: A venture capital funding round used to help a company scale after early-stage development.
  • Pre-money valuation: A company’s valuation before new investment is added in a financing round.
  • Bitcoin custody: The secure storage and management of Bitcoin, often using specialized providers.