What is Simplex?
Simplex operates at the intersection of traditional finance and the burgeoning cryptocurrency market, providing a crucial fiat on-ramp for the crypto ecosystem. Based in Tel Aviv, Israel, the company's core offering involves processing credit card payments with an unprecedented 100% fraud chargeback guarantee. This is achieved through a sophisticated fraud prevention solution powered by proprietary AI technology, which effectively blocks fraudulent transactions while ensuring a seamless payment experience for legitimate customers. By mitigating risk for merchants, Simplex enables them to focus on business expansion and customer acquisition, thereby increasing conversion rates and fostering broader adoption of digital assets.
How much funding has Simplex raised?
Simplex has raised a total of $8.4M across 2 funding rounds:
Angel/Seed
$1.4M
Series A
$7M
Angel/Seed (2014): $1.4M, investors not publicly disclosed
Series A (2016): $7M led by FundersClub, Bitmain, and Cumberland DRW
Key Investors in Simplex
FundersClub
FundersClub is an online venture capital firm that connects accredited investors with highly vetted startups, allowing them to diversify their investment portfolios. Since its inception in 2012, it has funded over 410 startups and invested more than $185 million, with a portfolio valuation exceeding $30 billion.
Bitmain
Since its foundation in 2013, BITMAIN is the world's leading manufacturer of digital currency mining servers through its brand ANTMINER, which has long maintained a global market share and leading position in technology, serving customers across over 100 countries and regions.
Cumberland DRW
Cumberland DRW LLC is a global leader in cryptoassets, providing access for financial institutions and high net worth individuals to capitalize on opportunities in the cryptoasset space, while working to ensure the ecosystem continues to grow and evolve responsibly.
What's next for Simplex?
The recent major strategic investment signals a new phase of expansion and innovation for Simplex. With a robust foundation in payment processing and fraud prevention, the company is well-positioned to capitalize on the increasing demand for secure and reliable fiat-to-crypto gateways. Future developments are likely to focus on enhancing its AI capabilities, expanding its geographical reach, and potentially diversifying its service offerings to further solidify its market leadership. This strategic backing will undoubtedly fuel Simplex's mission to bridge the gap between traditional finance and the decentralized economy.
See full Simplex company page
