Ryder, the company behind the easiest to use crypto hardware wallet, Ryder One, that gives users crypto security in 60 seconds or less, announces the close of a $3.2M seed funding round, led by Tim Draper, Founder of Draper Associates. Other participants include venture capital firms Borderless, Semantic, Smape, VeryEarly, as well as angel investors Anatoly Yakovenko, Co-founder of Solana, and Joe McCann, CEO of Asymmetric.
The funding will be used to ramp up production, scale the marketing and engineering teams, and further develop Ryder’s flagship product: Ryder One. It will also enable the next big marketing push and raise brand awareness.
"We created Ryder because we experienced firsthand how fragile and intimidating self-custody can be” Louise Ivan Payawal, co-founder and CEO of Ryder, added “For too long, crypto has relied on seed phrases - a single piece of paper that could decide the fate of your entire wallet.”
Marvin Janssen, co-founder and CTO of Ryder, shared, “With Ryder One, we set out to make crypto feel natural and human - as easy as tapping your phone. By simplifying the overall experience and rethinking recovery, we’re opening the door for anyone, anywhere to truly and confidently own and use crypto."
Tim Draper, Founder of Draper Associates and Satoshi Trillionaire, added, "What the crypto industry needs more than anything right now are solutions that don't require in-depth technical knowledge while maintaining high security standards. This is exactly what I saw in Ryder's hardware wallet with its minute-or-under set-up and offline design that keeps users' holdings safe."
Joe McCann, Founder of Asymmetric, expressed his concerns on other products in the market, stating “Complicated user interfaces and experiences are a known barrier to entry in the web3 industry. Ryder is simplifying the entire experience, which inadvertently helps with security. From tap-to-pay to removing the seed phrase, a major vulnerability in most wallets, Ryder is setting a new standard for simplicity, usability, and safety.”
Ryder One introduces TapSafe recovery, a robust recovery solution for crypto wallets. TapSafe backups are spread across mobile phones and coin-sized NFC Recovery Tags. These backups have to physically be brought together in other to restore access to the wallet in the case of loss. TapSafe is redundant, self-custodial, and eliminates the single point of failure that has existed with seed phrases until now. Customers can use Ryder One to safely create and back up their wallet within 60 seconds.
Julien Neree, CPO of Ryder said "three years, countless iterations, one mission: to make self-custody effortless for everyone." Looking ahead, the Ryder team is expanding their vision to everyday use-cases, enabling people to use cryptocurrency directly from their hardware wallet with Ryder’s companion app for tap-to-pay and other seamless, real-world transactions. Ryder is guiding the future of how billions of people will use and integrate digital assets in their daily lives.
Looking ahead, the Ryder team is expanding their vision to everyday use-cases, enabling people to use cryptocurrency directly from their hardware wallet with Ryder’s companion app for tap-to-pay and other seamless, real-world transactions. Ryder is guiding the future of how billions of people will use and integrate digital assets in their daily lives.
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