Bitcoin custody platform Onramp has raised $12.5 million in Series A funding, valuing the company at $135 million.

CoinFeed reported on May 14th that Bitcoin custody platform Onramp has completed a $12.5 million Series A funding round, valuing the company at $135 million pre-money. The round was led by Early Riders, whose CEO, Michael Tanguma, is also a partner. Onramp employs a multi-custodian custody model, requiring authorization from multiple custodians before Bitcoin assets can be transferred. Its partner custodians include BitGo, Coincover, and Tetra Trust.