Crypto payments startup Ramp closes $52.7 million raise

Quick Take

  • Ramp has closed a Series A round led by Balderton Capital.
  • The startup has seen monthly transaction volumes grow 30 times over the last 12 months.

Ramp, the payments infrastructure crypto startup, has closed a $52.7 million Series A raise led by Balderton Capital, according to an announcement.

The Block reported in October that the company, which is based in Warsaw and London, was set to raise $30 million at a $300 million valuation led by Balderton, citing people familiar with the matter. But a spokesperson for Ramp said yesterday that a larger sum had been sought from an early stage in negotiations. The company did not disclose a valuation in its announcement.

Existing backers NFX, Galaxy Digital, Seedcamp, Firstminute Capital and angel investors such as Wise co-founder Taavet Hinrikus and TrueLayer’s Francesco Simoneschi also participated. Balderton general partner Rana Yared has joined Ramp’s board.

Founded in 2017, Ramp offers a non-custodial payment infrastructure that helps exchanges, marketplaces and wallets to offer smoother paths to buying crypto and other digital assets, such as non-fungible tokens (NFTs). It styles itself as the ‘PayPal for crypto.’

Yared said in a statement that the Ramp team is “providing a reliable way in for new audiences by making buying digital assets as straightforward as buying US dollars when making a purchase from your favourite American brand in Euros.”

The Series A close comes barely six months after Ramp’s $9 million seed raise in June. The company said it has seen monthly transaction volumes grow by a factor of 30 times in the past 12 months, while tripling the size of its team.

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