November 20, 2024
Rise has announced the successful completion of its Series A funding round, raising $6.3 million. Draper Associates led the investment, with additional support from Polymorphic Capital, DCG, JAM Fund, Ryze Labs, and Paradigm Shift Capital. This latest funding brings the company’s total capital to $10 million, supporting its focus on providing hybrid payment solutions for businesses operating in fiat and cryptocurrency markets.
The company’s payment infrastructure integrates payroll and compliance services for businesses across Web2 and Web3 ecosystems. Rise reports that over 150 companies and more than 100,000 contractors are using its platform to manage cross-border payments. The platform is supported by a team of engineers, compliance experts, and business development professionals to develop systems that meet the demands of global business operations.
The Series A funding follows a growing demand for hybrid payroll systems that can handle transactions across multiple currencies and technologies. Rise plans to use the capital to develop new products and expand its market presence. The company stated that the funding will enable the introduction of additional infrastructure features aimed at addressing modern business payment needs.
About Rise
Rise is a payments platform focused on hybrid payroll and compliance solutions, bridging fiat and cryptocurrency economies. The company’s infrastructure supports global payroll operations, enabling businesses to streamline their payment processes for both traditional and digital financial systems. Rise is committed to empowering businesses to adapt to the future of work through its comprehensive payment solutions.
Website: https://riseworks.io/
X: @rise_pay
About Investor
Draper Associates
Draper Associates, founded by Timothy Draper, is a leading venture capital firm based in San Mateo, California. The firm specializes in early-stage investments and has been instrumental in backing disruptive innovations across technology sectors. Known for its support of transformative companies, Draper Associates focuses on enabling businesses to realize their potential in emerging markets.
Location: California, USA
Website:https://www.draper.vc/
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