Ramp closes $70m Series B fundraise

NOV 09, 2022

The round was led by Mubadala Capital and Korelya Capital, with participation from Cogito Capital and Balderton - who led the company's Series A last year.

Ramp, a financial technology company that builds payment rails connecting crypto to the global financial system, has closed its $70m series B funding round, co-led by Mubadala Capital and Korelya Capital, with participation from Balderton Capital and Cogito Capital. This brings the total raised by Ramp to over $120m over the past year. Ramp plans to use its Series B funding to invest further into its product line, add local fiat currencies and payment methods, expand into new territories, and continue to hire the best talent in the market.

Co-founded by CEO Szymon Sypniewicz and CPO Przemek Kowalczyk in 2018, Ramp’s full-stack payment solution allows users to buy crypto currencies inside any application or website, in the same way that PayPal and Stripe offer a unified purchase experience across any e-Commerce site.

Even within the context of a bear market Ramp has experienced substantial growth over the past year - in large part due to Ramp’s ease of use and its stringent focus on regulatory compliance. During 2022, volumes generated have increased by almost 240% compared to the same period last year. Meanwhile, the total number of unique users coming from integration partners has increased by over 600%.

Since founding Ramp, we’ve been solving real world problems by building a resilient and global product that enables our partners to offer their users a fast, safe and reliable way to buy and sell crypto while remaining compliant. And we’re not stopping there. Our goal is to keep building infrastructure to make web3 easy and accessible. Despite current market conditions, we see a growing trend of web2 companies looking to move into web3, and we’re uniquely positioned to help them through this transformation. That’s why we’re doubling down on growth. A bear market is a builder’s market, and we’re fully committed to our vision,

Szymon Sypniewicz, co-founder and CEO at Ramp.

Ramp is currently available to end users in more than 150 countries, providing a streamlined experience for converting to and from fiat and cryptocurrencies. Ramp provides a professional third-party solution for companies such as wallets, exchanges, NFT marketplaces and gaming companies including the likes of GameStop, Sorare, Brave, Exodus, Trust Wallet, Axie Infinity, Ledger, Argent, and Opera Browser.

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