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Web3 Payments Firm Transak Raises $20M

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. However, Web3 has a widespread problem with clunky user interfaces that don’t feel organic to many Web2 users. Founded in 2019 by chief executive officer Sam Start and chief technology officer Yeshu Agarwal, Transak supports onboarding from over 150 countries to more than 160 cryptocurrencies across over 75 blockchains.

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