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Figure Heloc The Open Platform Becomes First Telegram Web3 Unicorn with $1 Billion Valuation
Ryan Moore 
The Open Platform has officially reached unicorn status, becoming the first company in the Telegram Web3 ecosystem to hit a $1 billion valuation. The milestone follows a successful Series A equity funding round, where the company raised $28.5 million, signaling just how much confidence major investors have in the TON ecosystem.
The round was led by Ribbit Capital, a well-known fintech and crypto investor, with Pantera Capital joining in as well. Including this latest raise and previous seed investments, The Open Platform has now secured more than $70 million in total funding. This strong backing highlights how investors view TON as a key player in bringing blockchain to a massive global audience through Telegram.
A Strategic Push to Expand Globally
The new capital will play a big role in fueling The Open Platform’s international growth. The company is doubling down on launching its portfolio projects across the U.S., EU, and other major regions. That means ramping up investments in go-to-market plans, licensing, compliance infrastructure, and security.
For The Open Platform, this isn’t just about growth for the sake of it. It’s about positioning TON and Telegram as one of the most powerful on-ramps to Web3 and giving users and developers worldwide easier access to blockchain-based tools.
Building a Billion-User Crypto On-Ramp
Andrew Rogozov, CEO and Founder of The Open Platform, explained the vision clearly. The company plans to use Telegram’s massive reach to make blockchain accessible to a billion people. By combining TON Blockchain’s scalability with Telegram’s global user base, they aim to create both the infrastructure and user-facing apps needed to onboard everyday users into crypto.
The Open Platform is already behind some of TON’s most successful products, including Wallet in Telegram, which lets people manage digital assets directly inside the app. It also powers Tonkeeper, a popular non-custodial wallet, STON.fi, the leading swap dApp, and Getgems, TON’s biggest NFT marketplace. Add in Tribute, a creator monetization platform, and Notcoin, a viral tap-to-earn game, and it’s clear how fast this ecosystem is growing.
Backing from Some of the Biggest Names in Crypto
The fact that Ribbit Capital and Pantera Capital are backing The Open Platform says a lot. Ribbit has a history of investing early in giants like Coinbase, Nubank, and Revolut. Micky Malka, Ribbit’s founder, said they support teams that rethink how people interact with money and technology. He believes The Open Platform’s vision of building a powerful, open ecosystem inside Telegram unlocks huge opportunities for users and builders alike.
Pantera Capital shares that excitement. Ryan Barney, a partner at Pantera, said the chance to support tech and financial products that could reach a billion people is inspiring. He sees The Open Platform’s growth as a chance to help shape the future of Web3 inside one of the world’s most widely used apps.
A Big Year for TON
The investment momentum around TON isn’t happening in a vacuum. Earlier this year, the TON Foundation announced that major investors including Sequoia Capital, Ribbit Capital, Draper Associates, Kingsway, SkyBridge, and CoinFund collectively acquired $400 million worth of Toncoin. It’s a sign that institutions are starting to take TON’s role in Web3 seriously.
The Open Platform is at the center of that story. By blending the convenience of Telegram with the power of TON Blockchain, it’s building a Web3 experience that doesn’t feel complicated or locked behind technical walls. It’s fast, familiar, and designed to onboard the next wave of crypto users.
This funding round doesn’t just mark a valuation milestone. It sets the stage for a major shift in how blockchain can live inside everyday platforms. And if the team delivers on its vision, The Open Platform might just help bring Web3 to the next billion people.
About the Author
David Rich 
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Timothy Young