Onramp raised $12.5M in Series A at a $135M valuation to expand its institutional bitcoin custody platform.
Onramp has raised $12.5 million in a Series A round led by Early Riders, valuing the bitcoin financial services firm at $135 million as it pushes to scale a custody model designed to meet institutional standards.
The Austin-based company told Bitcoin Magazine it now holds more than $1 billion in assets under custody and has recorded zero security incidents since its founding in 2023. The new capital will support expansion of Onramp Finance, its recently launched platform that combines bitcoin custody, brokerage, and cash management, while funding new partnerships across banks, registered investment advisors, and fintech firms.
At the center of the strategy is Onramp’s Multi-Institution Custody (MIC) model, which distributes key control across several regulated custodians rather than relying on a single entity or placing full responsibility on clients. The system is built with partners including BitGo, Coincover, and Tetra Trust, allowing for shared control structures that can span jurisdictions.
The approach targets a long-standing tradeoff in digital asset custody. Investors have often had to choose between centralized platforms with counterparty risk and self-custody setups that require technical expertise and operational oversight. Onramp positions MIC as a middle path that removes single points of failure while keeping assets verifiable on-chain.
