Polish Crypto Payments Firm Ramp Network Raises $52.7M in Series A Funding
Godfrey Benjamin Dec 15, 2021 10:08
Ramp Network, a Polish-born crypto payments service provider has concluded its Series A funding round, attracting high-profile investors who pumped $52.7 million into the startup.
Ramp Network, a Polish-born crypto payments service provider has concluded its Series A funding round, attracting high-profile investors who pumped $52.7 million into the startup.
As reported by Sifted, the funding round was led by Balderton Capital, and also enjoined participation from existing investors including NFX, Galaxy Digital, Seedcamp, and Firstminute Capital, as well as angels Taavet Hinrikus from Wise and TrueLayer’s Francesco Simoneschi. It’s an impressive roster of investors.
Funding for Protocol Development
Ramp facilitates payment for businesses looking for ways to tag along with the evolution in the digital currency ecosystem. The startup eases the ease of entry for platforms that would have otherwise spent a lot of money and time developing their own payment infrastructures. With the plans to transform into the Stripe of the blockchain ecosystem, Ramp wants to trim the time to integrate its payment infrastructures into any platform from days or weeks to a matter of hours.
The firm says these visions can now be actualized using the newly secured capital, with additional plans to continually build its team.
“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 CEO
Founded in 2017, Ramp Network has partnered with more than 400 developers around the world including the likes of Axie Infinity, Mozilla, Opera Browser and Dapper Labs, and is the exclusive on-ramping partner for Sorare.
Beyond these partners, Ramp Network is also looking to onboard more global brands like Facebook as well as mainstream game developers looking for avenues to enter into the crypto ecosystem.
Positioning for a Web3.0 Future
A number of companies are positioning for a Web3.0 driven future in many ways ranging from venture capital funding to direct engagement in the space. The blockchain world has seen a lot of funding this year with FTX Derivatives Exchange, and Palm NFT Studio amongst the primary beneficiaries of this funding from investors who want to tag along and be positioned for the Web3.0 future.
Image source: Ramp.network