Privy, a provider of cryptocurrency wallet infrastructure, raised an estimated $15 million in a funding round led by Ribbit Capital.
The company, which announced the funds on Wednesday, will provide an application programming interface (API) for developers to manage and integrate user data, allowing customers to provide crypto services and other on-chain capabilities, allowing end users to buy and sell cryptocurrency.
“Companies that emerged from the early adoption of crypto rails will not only thrive, but will redefine how value is created and exchanged globally,” Privy said. “But this future will depend on one key factor: making it easier for developers to build a seamless, secure experience with crypto rails.”
Privy said the investment would spend more than $40 million in total funds, but the size of the round has not been revealed. Privy had raised $26.3 million in its first two rounds, according to data from the Startup Deal Platform Tracxn.
The round included participation from existing investors Sequoia capital, Paradigm, Blue Yard and Coinbase. Privy’s rating in the round has also not been revealed.
