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Figure Heloc Tim Draper Leads $3.2M Seed Round for Ryder Aiming to Make Seed Phrases Obsolete
Ryan Moore 
Tim Draper just led a $3.2 million seed round for Ryder, the Singapore-based startup behind Ryder One a hardware wallet that promises crypto security in under a minute. Draper’s firm, Draper Associates, was joined by other investors including Borderless Capital, Semantic, Smape, VeryEarly, and angel investors like Anatoly Yakovenko (co-founder of Solana) and Joe McCann (CEO of Asymmetric).
The funds will go toward scaling up production, expanding the team, and building brand awareness all centered around Ryder One, the company’s flagship hardware wallet.
Fixing Crypto’s Biggest Pain Point
If you’ve ever worried about losing your crypto because of a misplaced seed phrase, Ryder gets it. That’s exactly the problem they set out to solve.
“We created Ryder because we experienced firsthand how fragile and intimidating self-custody can be,” said Louise Ivan Payawal, Ryder’s co-founder and CEO. “For too long, crypto has relied on seed phrases basically a piece of paper that holds the fate of your entire wallet.”
TapSafe Recovery: No More Seed Phrases
Ryder’s big innovation is TapSafe Recovery a new way to back up and recover wallets without seed phrases. Instead of a single recovery phrase, your backup is split across your phone and small coin-sized NFC recovery tags. To restore your wallet, you simply bring them together physically. No cloud storage, no central servers, and no single point of failure.
“With Ryder One, we wanted crypto to feel natural and human as easy as tapping your phone,” said Marvin Janssen, co-founder and CTO. “By rethinking recovery, we’re making self-custody something anyone can actually use confidently.”
A Simpler, Safer Way Into Crypto
Tim Draper shared why he backed the company: “What crypto needs most right now are solutions that are easy to use but still super secure. Ryder nailed that balance it’s fast, offline, and gives users control without the tech headaches.”
The Ryder team has been working on this for three years, testing countless versions to get it right. Julien Neree, Ryder’s CPO, said it best: “Three years, countless iterations, one mission to make self-custody effortless for everyone.”
Looking ahead, Ryder plans to expand beyond storage and recovery. Their upcoming mobile app will let people use crypto directly from their hardware wallet think tap-to-pay and everyday transactions making crypto ownership not just safe, but practical.
Ryder isn’t just making wallets; it’s redesigning what crypto ownership feels like secure, human, and made for real life.
About the Author
David Rich 
John Wood 
Timothy Young