Privy, a company specializing in cryptocurrency wallet infrastructure, recently secured approximately $15 million in a funding round led by Ribbit Capital.
On Wednesday, the company revealed the news of the funding through a public announcement. Privy offers application programming interfaces (APIs) for developers to manage and integrate user data, enabling their clients to provide cryptocurrency services and other on-chain functions, allowing end users to easily buy, sell, and hold digital currencies.
“Businesses that are early adopters of cryptocurrency infrastructure will not only succeed but also reshape the way value is generated and exchanged on a global scale,” stated Privy. “However, this future depends on a crucial factor: simplifying the process for any developer to create seamless and secure experiences on cryptocurrency infrastructure.”
While the exact amount of the funding round was not disclosed, Privy mentioned that this investment brings their total funding to over $40 million. Previously, Privy had raised $26.3 million in their initial two rounds, as reported by startup deal platform Tracxn, estimating the latest investment to be around $15 million.
Along with Ribbit Capital, existing investors such as Sequoia Capital, Paradigm, BlueYard, and Coinbase also participated in this funding round. The valuation of Privy during this round was also not revealed.
