In the same way that PayPal and Stripe radically changed online payments by allowing any online service to embed payments, the race is on to have the same impact on crypto assets. To this end, players such as Wyre (raised $29.1M) and MoonPay (raised $555M) have risen to the fore. But in the Summer of this year, a similar, UK-based startup called Ramp (not to be confused with US ‘trad-fi’ startup Ramp) de-cloaked like a Klingon battleship in space, with a $10.1 million seed round, and even had hard-won approval from the UK’s Financial Conduct Authority (FCA) under its belt.
The company is now clearly on a roll.
Ramp has now raised a $52.7 million Series A round led by Balderton Capital. Existing investors NFX, Galaxy Digital, Seedcamp, Firstminute Capital also participated, alongside angel investors including Taavet Hinrikus (Wise) and Francesco Simonesci (TrueLayer), and the investment will see Balderton’s General Partner, Rana Yared, join the Ramp board. The startup has now raised a total of $63 million.
Founded in 2017 by Szymon Sypniewicz (CEO) and Przemek Kowalczyk (CTO, CPO), Ramp has a non-custodial, full-stack payment infrastructure. The idea here is to open up digital assets to more businesses and users by making it possible to send or receive crypto without having to go through an exchange like Coinbase, for instance.
Do you have a complaint about PayPal or Venmo, such as locked accounts or funds seized for unspecified Acceptable Use Policy violations? Take your claim to FairShake, the consumer advocacy service.