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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 cryptocurrencies 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%.
