Privy has unveiled a new funding round led by Ribbit Capital, with ongoing backing from Sequoia Capital, Paradigm, BlueYard, and Coinbase.
This recent investment increases the company’s total funding to over $40 million, bolstering its commitment to streamline crypto integration for developers.
Privy offers API-driven infrastructure for user onboarding and embedded wallets, empowering developers to deliver seamless experiences within blockchain environments.
Over 50 million accounts enabled
The firm has supported more than 50 million accounts in sectors like payments, DeFi, social interaction, and gaming, providing wallet solutions that simplify processes by removing hassles like downloads, seed phrases, and gas fees.
The new funds will assist Privy in scaling its infrastructure, enhancing security measures, and boosting real-time transaction capabilities.
The company caters to a diverse customer base, including Hyperliquid for trading, Farcaster for social engagement, OpenSea for marketplaces, and Blackbird for payment solutions.
Privy’s latest funding embodies a growing trend of expanding financial applications on blockchain networks. With Ribbit Capital’s support, the company aspires to make digital asset transactions more user-friendly for both developers and their clients.