Fun raises $72M for fiat-to-crypto onramp

Fun, a crypto onramp startup, announced a $72 million Series A round co-led by Multicoin Capital and SignalFire to support its fiat-to-crypto onramp infrastructure.

The company said the Series A is its largest disclosed financing to date. Fun did not provide a detailed breakdown of participating investors beyond the round leaders.

Crypto onramps let users convert fiat currency into cryptocurrency by linking payment methods such as bank transfers, debit and credit cards or bank rails with wallets, exchanges and apps. Fun offers integrations and developer tools intended to simplify those payment flows for platforms bringing new users into crypto.

Fun did not specify how it will deploy the capital. Startups in the payments-to-crypto infrastructure space often direct growth funding to engineering hires, product development, payment integrations and compliance work; Fun provided no timeline for hires or product launches.

Multicoin Capital focuses on investments in tokens, protocols and companies in the blockchain sector. SignalFire invests across software and infrastructure and uses data-driven methods to support portfolio companies. Both firms co-led the round.

The announcement did not include comments from Fun’s founders or from the lead investors. The funding continues investor activity in companies that connect traditional payment systems with crypto networks, where onramps serve as points of entry for retail and institutional users.