The Open Platform Is First Unicorn In Web3 Ecosystem In Telegram At $1Bn Valuation

The Open Platform raises $28.5M in Series A equity funding round, showcasing investor confidence in TON's ecosystem

• The equity round was led by Ribbit Capital, a leading fintech and crypto investor, with Pantera Capital also participating.
• The investment underscores strong confidence in The Open Platform's continued development of the blockchain ecosystem in Telegram, being built on TON.
• The involvement of prominent investors and the raised capital will support the launch of TOP's portfolio companies across the U.S., EU, and other key regions.

The Open Platform , the leading tech company developing TON-based innovations in Telegram, has announced the completion of its Series A and subsequent extension funding rounds, reaching a $1 billion valuation and becoming the first unicorn in the TON-based ecosystem in Telegram.

The Open Platform raised $28.5 million in an extended Series A funding round, led by Ribbit Capital, with Pantera Capital also participating. Including this latest raise and previous seed investments, The Open Platform has now secured over $70 million in total funding. These investments demonstrate the confidence that leading investors have in The Open Platform's ability to spearhead the growth of the blockchain ecosystem in Telegram. This ecosystem is being built on TON Blockchain – a fully decentralized and highly scalable blockchain that is the exclusive blockchain partner of Telegram Messenger.

The current strategic focus of The Open Platform centers on geographical expansion. The involvement of prominent investors, along with the newly raised capital, will support the launch of TOP's portfolio companies across the U.S., EU, and other key regions - in alignment with TON Foundation's global vision. This expansion will involve significant investment in go-to-market strategies, regulatory licensing, compliance infrastructure, and security enhancements, all aimed at ensuring sustainable growth and long-term success in these new jurisdictions.

The Open Platform is driving the growth of the TON-based ecosystem within Telegram, building both core infrastructure and consumer-facing apps across finance, gaming, and entertainment. Products that The Open Platform has powered include Wallet in Telegram , a digital asset solution seamlessly embedded into Telegram's interface;

By integrating blockchain technology into everyday digital experience, The Open Platform is creating a seamless, scalable platform designed for a billion users, accelerating the mainstream adoption of crypto - expanding global access to financial services, and enabling a new generation of builders and developers to build the next wave of consumer dApps.

This latest investment from Ribbit Capital, which has previously provided early-stage investment to Coinbase, Nubank, and Revolut, amongst many others, and Pantera Capital, is a testament to the potential these investors see in the integration of blockchain technology into a messenger application with over a billion users.

TON Blockchain has been the subject of increased institutional interest throughout this year. In March, TON Foundation announced that several leading investors, including Sequoia Capital, Ribbit Capital, Benchmark, Draper Associates, Kingsway, Vy Capital, Libertus Capital, CoinFund, SkyBridge, Hypersphere, and Karatage, have acquired and now hold $400 million worth of Toncoin, signaling growing interest in the TON-based ecosystem in Telegram.

About The Open Platform:

(TOP) is the leading tech company developing Web3 innovations in Telegram. TOP is fueling the Telegram economy through both foundational infrastructure and consumer-facing apps. By integrating blockchain technology into day-to-day digital experience, TOP is building a seamless, scalable platform designed for a billion users - accelerating the mass adoption of crypto.

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