Onramp Invest, a San Diego, CA-based iPaaS technology company that provides access to cryptoassets for RIAs, raised $6m in seed funding.
Backers included Coinbase Ventures, Eterna Capital, Fox Ventures, Galaxy Digital, Galaxy Fund Management, Gemini Frontier Fund, Ritholtz Wealth Management and WisdomTree.
The company intends to use the funds to expand its service offering to RIAs, explore broker-dealer registration, and increase the size of its engineering team.
Led by Tyrone Ross, Jr., Chief Executive Officer, Onramp Invest provides three things to RIAs including 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.
Since the platform’s official launch at the end of May, it has provided access to cryptoassets for RIAs; easy adviser client onboarding via Gemini, a crypto exchange and custodian, and Prime Trust; an 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.
The management also includes:
- Akin Sawyerr, Chief Innovation Officer.
- Justin Castelli, CFP®, Chief of Staff;
- Torie Happe, Head of Business Development; and
- Caitlin Cook, Vice President of Operations at Onramp Academy.