Onramp Raises $12.5M Series A to Scale Multi-Institution Bitcoin Custody Platform

Onramp raised $12.5 million in a Series A at a $135 million valuation to scale its Multi‑Institution Custody (MIC) bitcoin custody platform and broaden its institutional product stack. The Austin firm says it now holds over $1 billion in assets under custody with zero security incidents since launching in 2023. New capital will fund Onramp Finance (brokerage, cash accounts, payments card, bitcoin IRAs and access to gold), product development, licensing of custody infrastructure, and commercial expansion targeting banks, RIAs and fintechs. Institutional traction includes selection by UK pension fund Cartwright and endorsements of multi‑party custody frameworks — developments that could lower counterparty risk and ease institutional bitcoin allocations, supporting broader BTC adoption.