The crypto payment solutions platform, Ramp recently secured $53 million in the Series A funding round to facilitate wider product development. With this new capital, investors will be able to explore and implement more features on their products which are sure to make life easier for all of us!
The recent rise in popularity for crypto assets has caused an increase among payment companies looking into innovative solutions that will help facilitate a seamless transition from fiat currencies (like dollars or euros) into digital ones like Bitcoin; while others might prefer using their mobile wallet instead.
Global financial regulation is an area of growing importance. The recent economic crisis has highlighted the need for stronger rules on Wall Street, with increased demands being made by countries all over again. Ramp shares the same thought, and they emphasized the growing need for regulation.
After approval from two major financial regulators, Ramp’s platform is set to revolutionize the world of loan processing. It was a huge win when they received their first license in London earlier this year and now US companies can also take advantage by partnering up with them!
The company says that the financing will help it expand its presence even more. It’s no secret that Europe has been the epicenter for funding cryptocurrency projects, and now it looks as though Poland might take over. Series A financing round was led by Balderton Capital along with participation from existing investors NFX, Galaxy Digital Seedcamp FirstminuteCapital to name just a few.
Moreover, angel investors Taavet Hinrikus (Wise) and Francesco Simonesci also joined the round. On a different turn of events, An Innovative FinTech company that formed through a collaboration of banks and technology providers announced it has closed $12 million USD worth Series A funding in order to continue advancing its product roadmap.
In a statement, CEO of Ramp Network, Szymon Sypniewicz, went on to say, “Just six months after closing our Seed round, we’re thrilled to announce we’ve raised a $52.7 million Series A round, led by Balderton Capital. Four years ago, we set out to build a payments infrastructure application to simplify the exchange of value on public blockchains. During that time, we’ve launched and expanded our on-ramping products and have built an incredible community of partners, investors, and customers.”
Szymon adds, “Today, Ramp is a partner to more than 400 developers, including Mozilla, Browser, Dapper Labs (the company behind NBA Top Shot), and top crypto and Defi apps like Aave, Argent, Trust Wallet, and Zerion, as well as wildly popular games, Sorare and Axie Infinity.”
Crypto Startups
Crypto is coming! And it’s not just in the US where you can find crypto companies that are raising money. emerging blockchain projects across the world have been on an investment spree lately, with funding numbers reaching new heights this past quarter alone.
The crypto firm Anchorage secured $350 million in funding at a valuation of 3 billion. This is the most money that has ever been raised for an early-stage company from venture capital investors and it makes them one of two companies with values higher than 10 figures; they’re also worth more than Snapchat or Uber!
NYDIG, a company that specializes in financial technology and cryptocurrencies has recently topped the valuation of $7 billion. This is an impressive feat considering they only raised nearly one billion dollars less than two months ago!
