Cryptoasset platform Onramp Invest raises $6 million

The San Diego tech firm will use the funds to expand its offerings to RIAs and explore registering as a broker-dealer.

Onramp Invest, a San Diego-based integration-platform-as-a-service company that provides access to cryptoassets for RIAs, has raised $6 million in seed fundraising. The company said it plans to expand its service offerings to registered investment advisers, explore registering as a broker-dealer and increasing the size of its engineering team.

Major contributions in this fundraising came from Coinbase Ventures, Eterna Capital, Fox Ventures, Galaxy Digital, Galaxy Fund Management, Gemini Frontier Fund, Ritholtz Wealth Management and Wisdom Tree, the company said in a release.

“Black founders historically get left out of these types of funding opportunities,” Onramp CEO Tyrone Ross Jr. said in the release. “I want to thank all of our seed fundraising participants for blessing our company with this great opportunity to demystify cryptoassets and for me to inspire little Black boys and show them that they can be a startup CEO too.”

[More: Onramp Invest wants to offer crypto debit cards to clients]