The crypto payment solutions platform, Ramp recently secured $53 million in the Series A funding round to expand its product development. While the demand for crypto assets has increased during the last few months, payments companies have ramped up their efforts to introduce innovative solutions for a seamless crypto payment experience.
Ramp outlined the importance of regulation in the global financial sector. In addition to approval from the Financial Conduct Authority in the UK, Ramp received approval from the Financial Crimes Enforcement Network (FinCEN) in the United States.
According to the company, the latest financing will help the expansion of its presence. The Series A funding round was led by Balderton Capital along with participation from existing investors NFX, Galaxy Digital, Seedcamp and Firstminute Capital. Moreover, angel investors Taavet Hinrikus (Wise) and Francesco Simonesci (TrueLayer) joined the round.
“Just six months after closing our Seed round, we're thrilled to announce we've raised $52.7 million [in a] Series A round, led by Balderton Capital. Four years ago, we set out to build a payments infrastructure application to simplify the exchange of value on public blockchains. During that time, we've launched and expanded our on-ramping products and have built an incredible community of partners, investors and customers,” Szymon Sypniewicz, the CEO of Ramp Network, commented.
“Today, Ramp is a partner to more than 400 developers, including Mozilla, Browser, Dapper Labs (the company behind NBA Top Shot) and top crypto and Defi apps like Aave, Argent, Trust Wallet and Zerion, as well as wildly popular games, Sorare and Axie Infinity,” Sypniewicz added.
Crypto Startups
Emerging crypto companies around the world have raised substantial funding in the last quarter. Earlier this week, the crypto firm, Anchorage secured $350 million in funding at a valuation of $3 billion. Recently, the Bitcoin company, NYDIG topped the valuation of $7 billion after a raise of almost $1 billion.
