Onramp has raised $12.5 million in a Series A funding round at a $135 million valuation, according to company announcements. The round was led by venture capital firm Early Riders, with participation from strategic angel investors. The company said the capital will support the expansion of its retail and institutional offerings, strengthen partnerships with traditional financial institutions, and scale its asset management technology for broader global use.
Expanding institutional bitcoin infrastructure
Onramp operates as a bitcoin-focused financial services platform that builds infrastructure for custody and wealth management. The company plans to use the new funding to accelerate development of its integrated financial products, including brokerage services, retirement accounts, and cash management tools designed for clients across the United States.
A central part of its strategy is the Multi-Institution Custody model, which distributes cryptographic key management across several independent regulated custodians. This structure is designed to reduce counterparty risk by avoiding reliance on a single custodian or centralized exchange system.
Multi-institution custody framework and partners
The custody system is built in collaboration with established digital asset infrastructure providers, including BitGo, Coincover, and Tetra Trust. The model allows institutional clients to maintain verifiable on-chain exposure while distributing operational risk across multiple independent entities.
The company also reports that it currently holds more than $1 billion in assets under custody and has not experienced any security incidents since its launch in April 2023. These figures are based on company disclosures and have not been independently audited.
Institutional adoption continues to grow
Demand for regulated digital asset infrastructure has increased as financial institutions look for safer ways to access bitcoin exposure. Onramp’s model aims to address long-standing concerns around single-point-of-failure risks in traditional custody systems.
The platform has also seen early adoption in institutional contexts. UK-based pension consultant Cartwright has reportedly used Onramp’s infrastructure to support bitcoin allocation within a corporate pension scheme. Industry policy discussions, including those led by organizations such as the Bitcoin Policy Institute, have referenced multi-party custody frameworks as potential models for institutional and sovereign digital asset reserves.
Leadership and strategic expansion
To support its growth strategy, Onramp has appointed David Thayer, a former partner at Blackstone, as a strategic advisor. He will support corporate governance and help guide the company’s commercial expansion, including efforts to offer white-labeled versions of its custody infrastructure to banks and fintech firms.
With fresh capital, expanding institutional interest, and a custody model built around distributed risk management, Onramp is positioning itself within the growing digital asset infrastructure market. The company’s next phase will focus on scaling partnerships, improving regulatory alignment, and expanding its global footprint in bitcoin financial services.
