The Open Platform has secured $28.5 million in an extended Series A funding round, achieving a $1 billion valuation and becoming the first unicorn within Telegram’s TON blockchain ecosystem. Led by fintech and crypto-focused investor Ribbit Capital, the round also saw participation from Pantera Capital.
Including previous seed investments, The Open Platform has now raised over $70 million in total funding. The impressive valuation reflects strong investor confidence in the company's potential to significantly expand blockchain adoption via Telegram, the messaging platform’s exclusive blockchain partner.
Telegram, with its expansive user base exceeding a billion users globally, provides fertile ground for blockchain innovations. Andrew Rogozov, CEO and Founder of The Open Platform, remarked, "This investment supports our long-term strategy to scale the adoption of blockchain-based products by leveraging the power of Telegram as a distribution channel. By combining TON Blockchain with Telegram's global reach, we're building both the infrastructure and the consumer-facing apps needed to onboard a billion users to crypto."
The Open Platform plans to utilize the funds to expand its portfolio companies into major markets, including the United States and Europe. In alignment with the TON Foundation’s global vision, the company aims to enhance go-to-market strategies, secure regulatory licensing, strengthen compliance infrastructure, and upgrade security measures.
These strategic investments will enable sustained growth and ensure long-term success as The Open Platform introduces blockchain-enabled products and services to new jurisdictions.
Founded by Andrew Rogozov, The Open Platform has positioned itself as a pioneer in integrating blockchain technology into everyday digital interactions. The company has developed notable products such as Wallet in Telegram, a digital asset solution directly embedded within Telegram; Tonkeeper, the leading non-custodial crypto wallet in the TON ecosystem; and STON.fi, TON's prominent decentralized swap application.
Additionally, The Open Platform powers platforms like Getgems (TON’s primary NFT marketplace), Tribute (a monetization platform for Telegram creators), and Notcoin, a popular tap-to-earn gaming app. These innovations have positioned The Open Platform as central to accelerating mainstream crypto adoption by making blockchain technology accessible and practical for widespread daily use.
Ribbit Capital, known for early investments in Coinbase, Nubank, and Revolut, continues its trend of backing innovative financial technology. Founder Micky Malka stated, "We back teams that reimagine how the world experiences money and technology. The Open Platform's vision of building an intuitive and open platform within Telegram opens a new frontier of opportunities for builders and users on a global scale."
Pantera Capital also voiced enthusiasm, with Partner Ryan Barney adding, "We're thrilled to back this exceptional team led by Andrew. The opportunity to support groundbreaking tech and financial products that reach 1 billion people is inspiring."
Earlier this year, TON Blockchain attracted significant institutional interest, with investors such as Sequoia Capital, Benchmark, and Draper Associates collectively acquiring $400 million worth of Toncoin.
