Fiat-to-crypto aggregator onramp raises $6 million to bolster infrastructure – Tech.eu

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The next millions of users entering the crypto ecosystem will come from apps and games that have yet to be created. To successfully integrate these users into the ecosystem, having a robust and scalable fiat-to-crypto infrastructure will be crucial.

Netherlands-based fiat-to-crypto gateway aggregator Onramper taps into the potential of the industry. The platform has raised $6 million in seed funding to accelerate the product roadmap and quadruple headcount over the next six months. The round was led by EQT Ventures, with participation from Backed VC and TRGC.

Providing a hub for fiat gateways and app developers that is quick and easy to set up, the startup supports all currencies and payment methods in aggregated fiat gateways within the platform.

Fiat gateway companies have emerged to provide fiat-crypto scale-up infrastructure for any crypto platform. They also help eliminate technology and compliance challenges for developers, who are often constrained by legal and regulatory issues in different geographies.

Founded in June 2020 by Thijs Maas (CEO), Salah Abdelbaki (CTO) and Maurits Dewina (COO), Amsterdam-based Onramper has experienced first-hand the limitations of fiat gateways. Further bridging the worlds of fiat and crypto, the platform provides access to all fiat gateways in one widget, which is free to use and quick to integrate.

Talking about getting fiat and crypto on the same platform, Onramper CEO Thijs Maas said, “To unlock all the benefits of cryptocurrency and Web 3.0 and allow people to access in the future of finance in the world, we must evolve beyond the common binary. view that pits fiat against crypto. Instead, it’s time to embrace a new paradigm that sees both as essential components of a single financial world. To do this, we must create a new infrastructure that inherently connects the two worlds seamlessly. Onramping is not just about creating a fiat-to-crypto infrastructure. It is a question of integrating any user into Web 3.0, in the long term, without him even realizing it.

Tom Mendoza, Deal Partner, EQT Ventures, added, “Crypto-based platforms need fiat-to-crypto conversion for onboard users, but most platforms can’t sell crypto on their own. same. During our meeting with the Onramper team, we immediately aligned with their ambition to provide a service synonymous with speed of implementation, ease of use and profitability.

The platform’s partner fiat gateways benefit from additional transaction volumes, reduced onboarding efforts and access to new markets. Through its infrastructure, businesses and users can get instant access to over 150 cryptocurrencies in over 180 countries and over 20 payment methods, a reach unmatched in this growing space.

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