Ramp, a crypto payment platform, recently raised $53 million in Series A funding to grow its product development. Although demand for crypto assets has increased over the past few months, payment companies have intensified their efforts to offer innovative solutions for seamless crypto payments.
Ramp stressed the importance regulation of the global financial industry. Ramp was approved by the Financial Conduct Authority (UK) and the Financial Crimes Enforcement Network, USA (FinCEN).
According to the company the new financing will allow it to expand its reach. Balderton Capital led the Series A round, with participation from existing investors NFX and Galaxy Digital, Seedcamp, Firstminute Capital, and Seedcamp. The round was also joined by angel investors Taavet Hinrikus, Wise, and Francesco Simonesci, TrueLayer.
“We are thrilled to announce that we have raised $52.7 million in a Series A round led by Balderton Capital, just six months after we closed our Seed round. We started building a payments infrastructure application that would make it easier to exchange value on public blockchains four years ago. We’ve developed and launched new products, and built an amazing community of investors, customers, and partners.” Szymon Sypniewicz (CEO of Ramp Network), commented.
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