Privy Secures $40 Million in Funding Led by Ribbit Capital
Privy, a leading provider of API-based infrastructure for user onboarding and embedded wallets, has recently announced a successful funding round led by Ribbit Capital. This latest investment, which also includes continued support from Sequoia Capital, Paradigm, BlueYard, and Coinbase, brings Privy’s total funding to over $40 million. The company’s mission is to simplify crypto integration for developers, allowing them to create seamless experiences on blockchain rails.
With a track record of powering over 50 million accounts across a variety of industries including payments, DeFi, social, and gaming, Privy offers wallet solutions that eliminate complexities such as downloads, seed phrases, and gas fees. This funding will enable Privy to scale its infrastructure, enhance security measures, and improve real-time transaction capabilities for its growing customer base.
Privy’s client roster includes notable companies such as Hyperliquid for trading, Farcaster for social applications, OpenSea for marketplaces, and Blackbird for payments. The company’s focus on expanding financial applications on blockchain networks aligns with a broader trend in the industry. By receiving backing from Ribbit Capital, Privy aims to make digital asset transactions more accessible for developers and users alike.
The announcement of this new funding round underscores Privy’s commitment to driving innovation in the crypto space and further solidifies its position as a key player in the industry. With a strong investor lineup and a proven track record of success, Privy is well-positioned to continue its growth and deliver cutting-edge solutions for developers looking to leverage blockchain technology.