Web3 Wallet Infrastructure Firm Privy Secures $15 Million in Funding Led by Ribbit Capital

New York-based Privy, a web3 wallet infrastructure firm, announced it has raised $15 million in a funding round led by Ribbit Capital. This latest investment brings Privy's total funding to over $40 million. Existing investors such as Sequoia Capital, Paradigm, BlueYard, and Coinbase also participated in the round. The funding will be used to expand Privy's team from 25 to 50 employees within the next 18 months, focusing on product, engineering, legal, and go-to-market teams. Privy's wallet-enabled stack supports over 50 million accounts across payments, DeFi, social, and gaming platforms, securing billions in transactions. This announcement follows similar raises by Utila, Crossmint and Reown, highlighting the increasing investment in crypto wallet infrastructure.