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Transac raises $20 million for its traditional finance to crypto payments business.
A highly popular Series A
A highly popular Series A funding round was partaken in by prominent VC firms and angel investors from across the board. According to TechFundingNews, the round was led by Chinese venture capital firm CE Innovation Capital, and other investors were SBI Ven Capital, Sygnum, Azimut, Third Kind Venture Capital, UOB Venture Management, Signum Capital, Animoca Brands, Genting Ventures, Istari Ventures, No Limit Holdings, Woodstock Fund, IOSG Ventures, KX, Axelar, Tokentus, and The Lao.
Sandeep Naiwal of Polygon, Jan Hammer of Index Ventures, and Charles Delingpole of ComplyAdvantage were among the individual angel investors who also took part in the round.
Bingze Gu, Partner at CE Innovation Capital, the lead investor in Transak’s Series A said of his company’s investment into Transac:
At CEiC, we’re strategically invested in propelling the Web3 ecosystem forward. Transak stands at the forefront of this revolution, wielding their On & Off Ramp solution as a potent instrument to usher in the next billion Web3 users. Their recent initiatives, such as Transak One and the NFT checkout offerings, are not just lowering the barriers to entry into Web3 – they’re redefining them,”
Bridging the gap between traditional and crypto finance
Transak bridges the gap between traditional finance and the decentralised world of cryptocurrencies. By eliminating complex technical processes, it offers a simplified and intuitive solution for individuals and businesses to engage with digital assets. This breakthrough enables users to transact directly from their bank accounts, making the onboarding process remarkably convenient for newcomers to the world of cryptocurrencies.
One of the core features that sets Transak apart is its dedication to user experience. Recognizing the importance of simplicity and accessibility, the platform enables users to purchase cryptocurrencies using their preferred fiat currency. This ease of use empowers individuals to effortlessly enter the exciting realm of digital currencies without requiring any prior technical knowledge.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.