StageSeries A | Alive
Last Raised$20M | 7 days ago
Mosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
+40 points in the past 30 days
Transak develops a fiat-to-crypto payment network that acquires and sells cryptocurrency assets through bank transfers. It facilitates transitions between traditional finance and crypto assets. The company was founded in 2019 and is based in Miami, Florida.
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ESPs containing Transak
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The fiat-to-crypto on/off ramps market aims to make it easier for people to buy and sell cryptocurrencies using fiat currency. This market allows users to seamlessly convert their traditional currency into digital assets, providing access to the world of cryptocurrencies. The market is driven by the increasing adoption of cryptocurrencies and the need for more efficient and user-friendly ways to a…
Transak named as Leader among 13 other companies, including MoonPay, Ramp, and Mercuryo.io.
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Expert Collections containing Transak
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Transak is included in 2 Expert Collections, including Blockchain.
Companies in this collection build, apply, and analyze blockchain and cryptocurrency technologies for business or consumer use cases. Various industries include financial services, trade finance, supply chain, enterprise tech, consumer and retail, and healthcare.
Latest Transak News
Jun 1, 2023
SBI, Sygnum, Azimut part of crypto onramp Transak $20m funding 34 seconds ago Payment firm Transak announced a $20 million Series A funding round led by CE Innovation Capital. SBI Ven Capital invested in the round together with investment partners digital asset bank Sygnum and Italian fund manager Azimu t. UOB Venture Management and Animoca Brands also invested alongside many others. Transak provides a crypto on and off-ramp directly built into wallets and web3 smart contract applications like lending protocol Aave. It links to numerous local fiat payment methods and supports 150 countries. For example, the Coinbase wallet uses Transak for local payment methods in the Philippines and Thailand. It also has integrations with Trust Wallet, Ledger, and Decentraland among 350 web3 applications. The Transak solution is KYC compliant and has registrations with the UK and Polish (EU) regulators. With the latest funding, it plans to add several more licenses. In a similar way to Magic – the wallet provider that just raised $52 million – Transak has enabled a more user friendly way for crypto newbies to get started. It automatically creates a wallet using a social login rather than explicitly generating seed phrases for wallet keys. Then the user can directly buy an NFT or crypto using a card or local payment method. “With its innovative solutions and commitment to ease of access, Transak is an important partner in our effort to advance the Web3 gaming landscape toward mass adoption,” said Yat Siu, the Co-Founder and Executive Chairman of Animoca Brands.
Transak Frequently Asked Questions (FAQ)
When was Transak founded?
Transak was founded in 2019.
Where is Transak's headquarters?
Transak's headquarters is located at Miami.
What is Transak's latest funding round?
Transak's latest funding round is Series A.
How much did Transak raise?
Transak raised a total of $30.72M.
Who are the investors of Transak?
Investors of Transak include IOSG, The LAO, Kx Systems, Polygon, Index Ventures and 24 more.
Who are Transak's competitors?
Competitors of Transak include Wyre and 8 more.
Compare Transak to Competitors
MoonPay operates as a financial technology company. The company provides payment solutions for cryptocurrency. It converts fiat currencies and cryptocurrencies using all major payment methods, including debit and credit cards, local bank transfers, and more. The company was founded in 2018 and is based in Dover, Delaware.
Ansible Labs is building a web3-first payments platform. Its product "Beam", is an off-ramp product with multi-chain support for non-custodial wallets that can be used directly through a Web3 app with bank-grade compliance. It aims to simplify and accelerate money movement between blockchain and bank accounts for users. The company was founded in 2022.
Wyre provides a cryptocurrency exchange and technology platform. The platform offers payments for cryptocurrency applications, payout infrastructure, and more. Wyre was formerly known as snapCard. It was founded in 2013 and is based in San Francisco, California.
Mercuryo payment gateway partners with cryptocurrency exchanges to enable bank card payments and withdrawals.
Ramp develops a cryptocurrency exchange that delivers facilities for conventional currencies and cryptocurrency assets. It helps to link the open blockchain financial system and banking system. It allows customers to contract and lock a digital asset in their operations. The company was founded in 2017 and is based in Warsaw, Poland.
Banxa (TSXV: BNXA)(OTCQX: BNXAF)(FSE: AC00) is a compliant digital banking infrastructure company that offers a fiat-to-crypto conversion service and provides regulatory compliance, fraud detection, and mitigation, as well as payment reconciliation solutions. The company was founded in 2014 and is based in Melbourne, Australia.
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