Privy Secures $15 Million Funding Round

Privy, a provider of cryptocurrency wallet infrastructure, raised an estimated $15 million in a funding round led by Ribbit Capital.

The company announced the funding on Wednesday, offering application programming interfaces (APIs) for developers to manage and integrate user data. This allows customers to provide crypto services and other on-chain functions, enabling end users to buy, sell, and hold cryptocurrency.

> “Businesses that emerge from the early adoption of crypto rails will not only thrive but also redefine how value is created and exchanged globally,” Privy stated. “But this future hinges on one critical factor: making it easy for any developer to build seamless, secure experiences on crypto rails.”

The size of the funding round was not disclosed, though Privy mentioned that the investment pushes its total funding beyond $40 million. Previously, Privy raised $26.3 million across two rounds, with Tracxn estimating the latest investment close to $15 million.

The round saw participation from existing investors including Sequoia Capital, Paradigm, BlueYard, and Coinbase. Privy’s valuation during this round remains undisclosed.