Filipino Techpreneur Raises $3.2M for Crypto Wallet Startup Ryder Backed by Tim Draper

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Filipino tech entrepreneur Louise Ivan Valencia Payawal raised $3.2 million, which is around ₱185 million, in seed funding for the crypto hardware wallet startup he co-founded, Ryder, in a round led by billionaire venture capitalist Tim Draper.

₱185M Funding Secured

In a statement, Payawal shared that the investment received will be used to ramp up production, expand Ryder’s engineering and marketing teams, and strengthen its global brand presence as the company prepares for a broader international rollout.

Photo for the Article - Filipino Techpreneur Raises $3.2M for Crypto Wallet Startup Ryder Backed by Tim Draper

The funding also affirmed Ryder’s mission to make crypto simple, secure, and enjoyable for users of all backgrounds, he emphasized.

“We’re grateful for the overwhelming support we’ve received in this round, which shows we’re on the right track.”

Louise Ivan Valencia Payawal, Chief Executive Officer, Ryder

Alongside Draper, who noted that the crypto industry urgently needs user-friendly solutions that combine simplicity with strong security, the funding round also saw participation from Solana Founder Anatoly Yakovenko, Asymmetric CEO Joe McCann, and venture capital firms Borderless, Semantic, Smape, and VeryEarly.

“This is exactly what I saw in Ryder’s hardware wallet with its minute-or-under setup and offline design that keeps users’ holdings safe.”

Tim Draper, Venture Capitalist

What is Ryder?

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Stressing that cryptocurrency should be accessible to everyone and not just tech-savvy users, Payawal explained that Ryder (https://ryder.id/) is designed to make cryptocurrency ownership and security simpler, safer, and more accessible for everyday users.

“Crypto should be for everyone, not just developers or early adopters… With the right tools, it can be as simple as sending a text.”

Louise Ivan Valencia Payawal, Chief Executive Officer, Ryder

Its flagship product, the Ryder One hardware wallet, offers a secure and user-friendly way to manage cryptocurrencies without relying on traditional seed phrases.

Equipped with TapSafe, an NFC-enabled recovery system, Ryder One allows users to back up their wallets through recovery tags, trusted contacts, or standard seed phrases, according to its website.

According to the team, the device operates 100% offline and is protected by an EAL6+ Secure Element chip, providing bank-grade security against both physical and digital threats. Supporting multiple assets, including BTC, ETH, and SOL, Ryder claims to make self-custody seamless and accessible for all crypto users—from beginners to institutions.

Who is Louise Ivan Valencia Payawal?

Photo for the Article - Filipino Techpreneur Raises $3.2M for Crypto Wallet Startup Ryder Backed by Tim Draper

Originally from Bulacan, Payawal began his entrepreneurial journey after winning Startup Weekend ASEAN in 2015. He later earned a double master’s degree in green IT from the University of Amsterdam and Vrije Universiteit in the Netherlands.

Before establishing Ryder, Payawal worked with several international technology firms, including Stacks, a Bitcoin-based smart contract platform, where he said he helped build a global community of more than 100,000 members across 30 countries.

In a media release, it was noted that Payawal’s rise from his hometown in Bulacan to Silicon Valley highlights how Filipino innovation can thrive on the global stage.

“We’re all big dreamers… What sets Filipinos apart is resilience —theability to keep moving forward even when the odds are stacked against us.”

Louise Ivan Valencia Payawal, Chief Executive Officer, Ryder

This article is published on BitPinas: Filipino Techpreneur Raises $3.2M for Crypto Wallet Startup Ryder Backed by Tim Draper

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