Transak, a leading web3 payments and onboarding infrastructure provider, has raised $20M in a Series A funding round. The round was led by CE Innovation Capital and saw participation from many prominent web3 investors including SBI Ven Capital, Sygnum, Azimut, Third Kind Venture Capital, UOB Venture Management, Signum Capital, Animoca Brands, Genting Ventures, Istari Ventures, No Limit Holdings, Zilliqa Capital, Woodstock Fund, IOSG Ventures, KX, Axelar, Tokentus, and The Lao.
Despite challenging market conditions, Transak has shown remarkable resilience, raising $20M in its Series A round. This achievement is a testament to the strength of Transak’s business model and the robustness of its onboarding solutions.
“At CEiC, we’re strategically invested in propelling the Web3 ecosystem forward. Transak stands at the forefront of this revolution, wielding their On & Off Ramp solution as a potent instrument to usher in the next billion Web3 users. Their recent initiatives, such as Transak One and the NFT checkout offerings, are not just lowering the barriers to entry into Web3 – they’re redefining them.”
said Bingze Gu, Partner at CE Innovation Capital, the lead investor in Transak’s Series A.
Yat Siu, the Co-Founder and Executive Chairman of Animoca Brands commented,
“Being at the forefront of Web3 gaming, we understand the critical role that seamless user onboarding plays in the growth and success of our industry. With its innovative solutions and commitment to ease of access, Transak is an important partner in our effort to advance the Web3 gaming landscape toward mass adoption. The capability to integrate such solutions into our gaming platforms enhances user experience and fuels the adoption of blockchain gaming.”
The current round also saw investments from many leading web3 figures and angel investors like Jan Hammer of Index Ventures, Charles Delingpole of ComplyAdvantage and Sandeep Nailwal of Polygon.