Ramp Network Pulls $52.7M Funding to Enhance its Crypto Payments Infrastructure

Polish crypto payment infrastructure service provider Ramp Network has raised $52.7 million in Series A funding, topping the initial funding projection of $30 million. The funding round was led by Balderton Capital and included existing investors NFX, Galaxy Digital, Seedcamp, and Firstminute Capital, as well as angels Taavet Hinrikus from Wise and TrueLayer’s Francesco Simoneschi. 

The funding comes on the back of massive growth the startup has recorded in the past year which has seen its transaction surge by 30x as well as increasing its team size threefold. Ramp is arguably a pride of Poland as the funding comes off as one of the largest of such from the European nation. 

Ramp brands itself as the Stripe of crypto, helping businesses adopt digital currency payments by integrating the startup’s infrastructure onto their platforms. Ramp’s major customers include Mozilla, Opera Browser, Dapper Labs, and Sorare, a few of the 400 global partners it has garnered since its inception back in 2017. Ramp Network hopes to bolster its infrastructure capabilities with the new funding.

“We raised to be able to speed up our development even more. Our first priority is to have more payment rails around the world,” says Szymon Sypniewicz, Ramp co-founder and Chief Executive Officer.

While Ramp is establishing its foothold in the digital currency ecosystem, Sypniewicz says the startup has plans to push for partnership with mainstream gaming and tech brands including Facebook and Google Finance who may want to join the crypto bandwagon and catch on to the potentials of the metaverse.

“I think it has to be a process initiated by big existing platforms,” he says. “We see Facebook pushing crypto solutions, as well as many other tech giants looking into it. It’s happening.”

Investor’s Take About Ramp Network

Ramp Network investors have a good tale to tell about the protocol, with Rana Yared, a general partner at Balderton Capital saying the startup occupies a pivotal position in today’s crypto value chain.

“Digital assets represent a once-in-a-decade moment where a new technology emerges that will have a fundamental impact on our society and culture,” she says, adding, “We believe that Ramp is at the right position in the value chain: by allowing any crypto-enabled app to onboard mainstream users, they effectively bridge the gap between use cases that rely on crypto and fiat money.”

Ramp has a number of licenses from the world’s strictest regulators including the US Financial Crimes Enforcement Network (FinCEN) amongst others. This regulatory standing gives Ramp a competitive advantage, one that is billed to aid its intended global growth.