Web3 Payments Firm Transak Raises $20M

Web3 payments infrastructure startup Transak has raised $20 million in a Series A round to build out a product suite that makes crypto projects more accessible for new users. BrandyBetz reports

Web3 payments startup Transak has raised $20 million in a Series A funding round led by early-stage venture capital firm CE Innovation Capital. The new capital will be used toward a continued global expansion and to help build out the onboarding solutions, including those for Web3 games and financial applications, according to a press release provided to CoinDesk.

A Web3 platform can embed Transak’s payment and onboarding infrastructure to make it easier for users to buy and sell crypto assets in a way that could feel more natural for Web2 users, said the company. Transak handles the Know York Customer requirements, risk monitoring and compliance, payment methods and customer support.

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