Telegram Wallet Developer TOP Hits $1B Valuation in New Funding Round

• The Open Platform (TOP), developer of Telegram’s wallet, raised $28.5M at a $1B valuation
• The funding, led by Ribbit and Pantera, will be used to expand the crypto wallet into the US and Europe
• This follows a broader $400M investment into the TON ecosystem by major VCs like Sequoia

The Open Platform (TOP), the main developer building the crypto wallet inside the Telegram messaging app, raised $28.5 million in a new funding round, pushing its valuation to $1 billion. 

The deal, announced on July 3, 2025, was led by the venture capital firm Ribbit Capital, with Pantera Capital also participating.

The new capital provides TOP with the resources to pursue its most critical goal of expanding the wallet into the United States and Europe. Andrew Rogozov, TOP’s founder and CEO, confirmed the deal accounted for 5% equity, with Ribbit acquiring 4% and Pantera 1%. No cryptocurrency was involved in the deal. Andrew Rogozov also clarified to Fortune  that the company has now raised more than $70 million in total across multiple rounds.

The Mission: Conquer a Regulated West

TOP is the developer behind “Wallet in Telegram,” the self-custody crypto feature already e…

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