About Fortress Trust
Fortress Trust is a Technology company based in Las Vegas (United States) founded in 2022 by Scott Purcell, and was acquired by Ripple in September 2023. Financial infrastructure and compliance solutions are provided by Fortress Trust. It operates on a API-as-a-Product, Managed Services, and FinTech model. Fortress Trust has raised $22.5 million across 2 funding rounds from investors including Ripple and Ayon Capital. Its chief executive, as recorded, is Scott Purcell. Fortress Trust offers products and services including Fortress Custody, Payment Rails, and Crypto Liquidity. Its focus areas include Financial Services, FinTech and Digital Asset Custody. Its legal entity is Fortress Trust LLC. Its competitors include Eightco, p0x labs and Bit Origin; 1 of its 3 listed competitors has raised funding.
Company details
Modern financial infrastructure for businesses is built by Fortress Trust, focusing on moving and storing money globally across fiat and crypto rails. Virtual accounts, real-time payments, cross-border settlement, and digital asset liquidity are offered. Strong compliance and a network of banking partners are maintained to support operations. Solutions cater to custody, payment processing, and regulatory needs in the financial sector.
- Headquarters Las Vegas, United States
- Founders Scott Purcell
- Stage Acquired
- SectorsTechnology
- Email••••••••
- Website fortresstrust.com
- Social LinkedIn
- Acquired by Ripple (Sep 2023)
- Legal Name Fortress Trust Llc
Products & Services of Fortress Trust
Fortress Trust offers a comprehensive portfolio of products and services, including Fortress Custody, Payment Rails, and Crypto Liquidity.
Custody services for fiat and digital assets are provided.
Payment processing via bank accounts and crypto is enabled.
Instant crypto conversions with multiple trading pairs are supported.
Funding Insights of Fortress Trust
Fortress Trust has successfully raised a total of $22.5M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $22.5 million completed in August 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $22.5M
- Total Rounds 2
- Last Round Seed — $22.5M
- Investors Count 2
All 2 funding rounds of Fortress Trust with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug 2022 | $22.5M | Seed | – | Ayon Capital | |
| Jun 2022 | Seed | – | Ripple | – |
2 investors in total: 2 institutional.
Investors in Fortress Trust
Fortress Trust has secured backing from 2 investors, including venture fund and institutional investors. Prominent investors backing the company include Ripple and Ayon Capital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Multiple investments are managed by Ayon Capital single-family office. | ayon.com | Clearwater, United States | ||
Blockchain-based payment network for cross-border transfers is developed. | 2012 | ripple.com | San Francisco, United States |
Investor details for Fortress Trust
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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People of Fortress Trust
2 people are tracked at Fortress Trust (2 in leadership).
| Name | Role | Group |
|---|---|---|
Scott Purcell | Founder & CEO | Leadership |
George S. Georgiades | CEO | Leadership |
Complete people profiles for Fortress Trust
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Timeline of Fortress Trust
4 dated milestones of Fortress Trust across 1 years, from founding to its latest funding, stage changes and deals.
- Founded Fortress Trust is founded.
- Funding First funding round.
- Funding Latest funding round, Seed, of $22.5M.
- Exit Acquired by Ripple.
Competitors of Fortress Trust
Fortress Trust has 3 listed competitors in our database, 1 of them funded. They include Eightco, p0x labs and Bit Origin.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| 8co.holdings | 1996 | Safety Harbor, United States | Data-driven technology solutions are provided for diversified industries through acquisitions. | |||
| p0xlabs.xyz | 2020 | New York, United States | $25M | Blockchain development services are provided by p0x labs. | ||
| bitorigin.io | 2022 | New York, United States | Blockchain development and financing services are provided by Bit Origin. |
Detailed competitors of Fortress Trust
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Web traffic of Fortress Trust
The website of Fortress Trust (fortresstrust.com) receives about 2.8K visits a month.
- Monthly visits2.8K
▼ 16.2% vs previous month
Top companies in Blockchain & Decentralized Infrastructure
3 companies that operate in the same segment as Fortress Trust (Blockchain & Decentralized Infrastructure) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Decentralized exchange platform for cryptocurrency trading is operated. | 2018 | New York, New York, United States | USD 176 M | 217 | ||
Developer of blockchain and web3 software platform | 2014 | Fort Worth, Texas, United States | USD 725 M | 708 | ||
Protocols for blockchain-based solutions are provided by Aptos. | 2021 | Palo Alto, California, United States | USD 350 M | 166 |
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Related news about Fortress Trust
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Frequently Asked Questions about Fortress Trust
Fortress Trust was founded in 2022.
Fortress Trust is headquartered in Las Vegas, United States. It is registered at Las Vegas, Nevada, United States.
Scott Purcell is the CEO of Fortress Trust, as recorded in our data. They have also founded this company.
Fortress Trust is a funded company, having raised a total of $22.5M across 2 funding rounds to date.
Modern financial infrastructure for businesses is built by Fortress Trust, focusing on moving and storing money globally across fiat and crypto rails. Virtual accounts, real-time payments, cross-border settlement, and digital asset liquidity are offered. Strong compliance and a network of banking partners are maintained to support operations. Solutions cater to custody, payment processing, and regulatory needs in the financial sector.
Fortress Trust's top competitors include Eightco, Bit Origin and p0x labs.
Fortress Trust offers Fortress Custody, Payment Rails, and Crypto Liquidity.
Fortress Trust has 2 investors. Key investors include Ripple, and Ayon Capital.
Fortress Trust operates through Fortress Trust Llc.
Yes. Fortress Trust was acquired by Ripple in September 2023.